Cerity Partners LLC lessened its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 36.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,503 shares of the company's stock after selling 37,792 shares during the period. Cerity Partners LLC's holdings in Dropbox were worth $1,776,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of DBX. Proficio Capital Partners LLC bought a new position in Dropbox in the 4th quarter worth approximately $511,000. Raymond James Financial Inc. acquired a new stake in Dropbox during the 4th quarter worth $2,511,000. PNC Financial Services Group Inc. grew its holdings in Dropbox by 8.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,272 shares of the company's stock worth $218,000 after acquiring an additional 538 shares during the period. HighTower Advisors LLC grew its holdings in Dropbox by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock worth $832,000 after acquiring an additional 1,131 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in Dropbox during the 4th quarter worth $201,000. Institutional investors own 94.84% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on DBX. Citigroup lifted their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. UBS Group lifted their target price on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, May 9th.
Check Out Our Latest Report on DBX
Insider Buying and Selling
In related news, CEO Andrew Houston sold 319,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $28.48, for a total value of $9,085,120.00. Following the sale, the chief executive officer directly owned 8,266,666 shares of the company's stock, valued at approximately $235,434,647.68. The trade was a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William T. Yoon sold 5,449 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 245,837 shares in the company, valued at $7,114,522.78. This represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 466,125 shares of company stock worth $13,222,130 over the last ninety days. Insiders own 28.59% of the company's stock.
Dropbox Stock Up 0.5%
Shares of DBX stock opened at $27.06 on Monday. Dropbox, Inc. has a 12-month low of $21.32 and a 12-month high of $33.33. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 10.64 and a beta of 0.65. The firm has a fifty day moving average of $28.38 and a 200-day moving average of $28.55.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly 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. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The company had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. During the same quarter in the previous year, the business earned $0.58 EPS. The firm's 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.
Dropbox Profile
(
Free Report)
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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