Envestnet Asset Management Inc. Has $1.19 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

Envestnet Asset Management Inc. raised its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 31.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,526 shares of the company's stock after acquiring an additional 9,570 shares during the period. Envestnet Asset Management Inc.'s holdings in Dropbox were worth $1,187,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its holdings in shares of Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock valued at $24,007,000 after acquiring an additional 124,528 shares during the period. CWA Asset Management Group LLC acquired a new position in Dropbox in the 4th quarter worth about $3,205,000. Empowered Funds LLC grew its stake in shares of Dropbox by 68.0% in the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock valued at $1,086,000 after buying an additional 14,629 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Dropbox by 291.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company's stock valued at $3,755,000 after acquiring an additional 93,058 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Dropbox by 23.2% in the fourth quarter. Blue Trust Inc. now owns 3,616 shares of the company's stock worth $109,000 after acquiring an additional 682 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price objective on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, January 6th.

Dropbox Price Performance

Shares of DBX traded down $0.23 on Friday, reaching $28.61. 4,139,767 shares of the stock traded hands, compared to its average volume of 3,638,204. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.70 and a beta of 0.68. The stock's 50-day moving average price is $26.77 and its 200-day moving average price is $28.42.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share 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 the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, equities research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company'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 transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at approximately $9,772,206.87. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,765 shares of company stock valued at $383,995. Corporate insiders own 28.59% of the company's stock.

Dropbox Company 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.