Boothbay Fund Management LLC Sells 5,262,993 Shares of Dropbox, Inc. (NASDAQ:DBX)

Boothbay Fund Management LLC decreased its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 99.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,007 shares of the company's stock after selling 5,262,993 shares during the quarter. Boothbay Fund Management LLC's holdings in Dropbox were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other Dropbox news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,765 shares of company stock valued at $383,995. Insiders own 28.59% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price target on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, January 6th.

Dropbox Stock Performance

Shares of Dropbox stock traded down $0.15 during midday trading on Tuesday, hitting $28.83. The company had a trading volume of 3,321,447 shares, compared to its average volume of 3,630,276. The company has a 50 day moving average of $26.81 and a 200 day moving average of $28.47. The stock has a market capitalization of $8.70 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.70 and a beta of 0.68. 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 released its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The company had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. Equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

About Dropbox

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.