Abacus FCF Advisors LLC Sells 13,125 Shares of Dropbox, Inc. (NASDAQ:DBX)

Abacus FCF Advisors LLC reduced its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,521 shares of the company's stock after selling 13,125 shares during the period. Abacus FCF Advisors LLC's holdings in Dropbox were worth $1,777,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. 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. True Wealth Design LLC raised its position in Dropbox by 191.0% in the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock valued at $31,000 after purchasing an additional 680 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox in the fourth quarter valued at about $40,000. Finally, Allworth Financial LP lifted its position in Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after acquiring an additional 365 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Trading Up 0.8%

DBX stock traded up $0.23 during trading on Friday, hitting $28.28. The company had a trading volume of 752,199 shares, compared to its average volume of 3,430,780. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The company has a fifty day moving average price of $28.36 and a two-hundred day moving average price of $28.86. The company has a market cap of $7.96 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.70 and a beta of 0.66.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same quarter in the prior year, the company earned $0.58 EPS. The firm's quarterly revenue 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 year.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $29.53, for a total transaction of $73,825.00. Following the completion of the sale, the chief financial officer now owns 533,594 shares of the company's stock, valued at approximately $15,757,030.82. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Cox sold 2,339 shares of Dropbox stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.94, for a total transaction of $67,690.66. Following the completion of the sale, the insider now owns 378,427 shares in the company, valued at approximately $10,951,677.38. This trade represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,527 shares of company stock valued at $926,986. 29.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on DBX shares. Citigroup lifted their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. UBS Group raised their price target on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, May 9th.

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.