West Tower Group LLC lessened its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 50.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,520 shares of the company's stock after selling 15,000 shares during the quarter. West Tower Group LLC's holdings in Dropbox were worth $436,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of DBX. Sumitomo Mitsui Trust Group Inc. grew its holdings in Dropbox by 4.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 38,512 shares of the company's stock valued at $979,000 after purchasing an additional 1,800 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Dropbox by 0.8% during the third quarter. Victory Capital Management Inc. now owns 735,053 shares of the company's stock valued at $18,692,000 after acquiring an additional 5,772 shares in the last quarter. Natixis Advisors LLC purchased a new stake in shares of Dropbox during the third quarter worth about $270,000. Thrivent Financial for Lutherans lifted its stake in shares of Dropbox by 12.6% in the third quarter. Thrivent Financial for Lutherans now owns 65,771 shares of the company's stock worth $1,672,000 after acquiring an additional 7,385 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Dropbox by 12.0% in the third quarter. Advisors Asset Management Inc. now owns 27,593 shares of the company's stock valued at $702,000 after purchasing an additional 2,960 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.
Insiders Place Their Bets
In other Dropbox news, CEO Andrew Houston sold 500,323 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the sale, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 634,504 shares of company stock valued at $18,935,530. Company insiders own 28.59% of the company's stock.
Dropbox Stock Up 0.5 %
Shares of DBX traded up $0.13 during midday trading on Friday, hitting $26.50. The company had a trading volume of 13,899,248 shares, compared to its average volume of 3,449,137. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.70 and a beta of 0.77. The company's 50 day moving average price is $29.36 and its 200 day moving average price is $27.94. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Equities analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group lifted their price objective on Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, January 6th.
View Our Latest Research Report on DBX
About Dropbox
(
Free Report)
Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.
See Also
Before you consider Dropbox, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Dropbox wasn't on the list.
While Dropbox currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
