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

Cambridge Investment Research Advisors Inc. lowered its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 43.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,195 shares of the company's stock after selling 10,022 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Dropbox were worth $352,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of Dropbox during the 4th quarter valued at about $511,000. Raymond James Financial Inc. bought a new stake in Dropbox during the fourth quarter worth $2,511,000. PNC Financial Services Group Inc. grew its holdings in Dropbox by 8.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,272 shares of the company's stock worth $218,000 after purchasing an additional 538 shares during the period. HighTower Advisors LLC grew its stake in Dropbox by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock valued at $832,000 after buying an additional 1,131 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after purchasing an additional 424 shares during the last quarter. Institutional investors own 94.84% of the company's stock.

Insider Activity

In other Dropbox news, CEO Andrew Houston sold 319,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $28.48, for a total value of $9,085,120.00. Following the completion of the sale, the chief executive officer directly owned 8,266,666 shares of the company's stock, valued at $235,434,647.68. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider William T. Yoon sold 5,449 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $157,694.06. Following the transaction, the insider owned 245,837 shares of the company's stock, valued at approximately $7,114,522.78. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 463,625 shares of company stock worth $13,155,055. Corporate insiders own 28.59% of the company's stock.

Dropbox Trading Down 1.6%

DBX stock traded down $0.43 during mid-day trading on Tuesday, hitting $26.67. The stock had a trading volume of 1,773,964 shares, compared to its average volume of 3,401,972. The firm has a fifty day simple moving average of $28.61 and a 200 day simple moving average of $28.66. The firm has a market capitalization of $7.51 billion, a P/E ratio of 17.42, a P/E/G ratio of 10.47 and a beta of 0.65. Dropbox, Inc. has a 52 week low of $21.32 and a 52 week high of $33.33.

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

Analyst Ratings Changes

A number of brokerages have commented on DBX. UBS Group upped their price objective on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th. Citigroup boosted their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a report 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.