Algert Global LLC Has $11.27 Million Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Algert Global LLC boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 375,297 shares of the company's stock after purchasing an additional 9,465 shares during the quarter. Algert Global LLC owned approximately 0.12% of Dropbox worth $11,274,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares in the last quarter. Avion Wealth boosted its position in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock worth $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Dropbox in the 4th quarter valued at $40,000. Allworth Financial LP raised its position in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after purchasing an additional 365 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Dropbox by 768.9% during the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after purchasing an additional 1,361 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Trading Down 0.1 %

Shares of DBX traded down $0.02 during midday trading on Friday, hitting $29.67. The stock had a trading volume of 2,513,837 shares, compared to its average volume of 3,961,481. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The business has a 50-day simple moving average of $27.02 and a two-hundred day simple moving average of $28.50. The firm has a market cap of $8.95 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $624.70 million for the quarter, compared to analysts' expectations of $619.56 million. During the same quarter in the previous year, the business posted $0.58 EPS. The business's revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Citigroup increased their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday.

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the sale, the chief financial officer now owns 367,791 shares of the company's stock, valued at $9,772,206.87. The trade was a 0.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares of the company's stock, valued at $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,265 shares of company stock worth $303,520. 29.95% of the stock is owned by corporate insiders.

Dropbox Profile

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.