Centiva Capital LP Sells 50,342 Shares of Dropbox, Inc. (NASDAQ:DBX)

Centiva Capital LP lessened its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 76.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,637 shares of the company's stock after selling 50,342 shares during the period. Centiva Capital LP's holdings in Dropbox were worth $470,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of Dropbox by 68.0% in the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock worth $1,086,000 after purchasing an additional 14,629 shares during the period. Exchange Traded Concepts LLC increased its holdings in Dropbox by 291.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company's stock valued at $3,755,000 after purchasing an additional 93,058 shares in the last quarter. Blue Trust Inc. boosted its position in Dropbox by 23.2% in the 4th quarter. Blue Trust Inc. now owns 3,616 shares of the company's stock valued at $109,000 after buying an additional 682 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Dropbox in the 4th quarter valued at $656,000. Finally, Intech Investment Management LLC lifted its stake in shares of Dropbox by 185.2% in the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company's stock valued at $4,521,000 after purchasing an additional 97,725 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup lifted their target price on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. UBS Group boosted their price target on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.

Dropbox Stock Performance

Shares of DBX stock traded down $0.52 during trading on Friday, hitting $28.94. The company had a trading volume of 2,547,435 shares, compared to its average volume of 3,597,918. The firm has a market capitalization of $8.73 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. The stock's 50-day moving average price is $27.36 and its 200 day moving average price is $28.63. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33.

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, topping 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 firm had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same period in the prior year, the company earned $0.58 earnings per share. The company's quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction dated 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 directly owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $26.94, for a total transaction of $67,350.00. Following the completion of the transaction, the chief financial officer now directly owns 565,068 shares in the company, valued at approximately $15,222,931.92. The trade was a 0.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,265 shares of company stock worth $303,520. Corporate insiders own 29.95% of the company's stock.

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.