Cambridge Investment Research Advisors Inc. Sells 10,022 Shares of Dropbox, Inc. (NASDAQ:DBX)

Cambridge Investment Research Advisors Inc. reduced its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 43.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,195 shares of the company's stock after selling 10,022 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Dropbox were worth $352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new position in shares of Dropbox in the 4th quarter worth $511,000. Raymond James Financial Inc. purchased a new position in shares of Dropbox in the 4th quarter worth $2,511,000. PNC Financial Services Group Inc. grew its stake in shares of Dropbox by 8.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,272 shares of the company's stock worth $218,000 after buying an additional 538 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Dropbox by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock worth $832,000 after buying an additional 1,131 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake 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 buying an additional 424 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Ashraf Alkarmi sold 10,098 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.10, for a total transaction of $283,753.80. Following the completion of the sale, the insider owned 492,856 shares of the company's stock, valued at $13,849,253.60. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William T. Yoon sold 5,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.94, for a total transaction of $157,694.06. Following the sale, the insider directly owned 245,837 shares of the company's stock, valued at $7,114,522.78. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 466,125 shares of company stock valued at $13,222,405. 29.95% of the stock is currently owned by corporate insiders.

Dropbox Price Performance

Dropbox stock opened at $26.61 on Friday. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 10.75 and a beta of 0.65. The firm has a 50-day moving average of $28.61 and a two-hundred day moving average of $28.69. Dropbox, Inc. has a 1 year low of $21.32 and a 1 year high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The firm had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. During the same period last year, the firm earned $0.58 earnings per share. The company's quarterly revenue was down 1.0% on a year-over-year basis. Research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

DBX has been the subject of a number of recent analyst reports. UBS Group lifted their price target on shares of 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 price target on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th.

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.

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