Mercer Global Advisors Inc. ADV Sells 168,646 Shares of Dropbox, Inc. (NASDAQ:DBX)

Mercer Global Advisors Inc. ADV lessened its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 77.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,898 shares of the company's stock after selling 168,646 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Dropbox were worth $1,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bessemer Group Inc. increased its position in Dropbox by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 126,321 shares of the company's stock worth $3,794,000 after purchasing an additional 333 shares during the last quarter. Allworth Financial LP grew its stake in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after buying an additional 365 shares in the last quarter. Heron Bay Capital Management increased its holdings in shares of Dropbox by 2.3% in the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after buying an additional 378 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Dropbox by 5.1% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock valued at $256,000 after buying an additional 407 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after acquiring an additional 424 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Trading Down 0.1%

Shares of DBX stock traded down $0.03 during trading hours on Wednesday, reaching $29.67. 1,004,135 shares of the stock were exchanged, compared to its average volume of 3,593,008. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The company's 50-day moving average price is $27.22 and its 200-day moving average price is $28.59.

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

Insider Activity at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $28.29, for a total transaction of $70,725.00. Following the transaction, the chief financial officer now owns 562,568 shares of the company's stock, valued at approximately $15,915,048.72. This represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction 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 transaction, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,265 shares of company stock worth $303,520 in the last quarter. 29.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group boosted their price objective on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Citigroup lifted their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th.

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.