Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 43.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,101 shares of the company's stock after selling 13,350 shares during the quarter. Cetera Investment Advisers' holdings in Dropbox were worth $514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DBX. EverSource Wealth Advisors LLC raised its stake in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares during the last quarter. Avion Wealth raised its stake in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after buying an additional 984 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Dropbox during the 4th quarter valued at $40,000. Allworth Financial LP increased 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 purchasing an additional 365 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of Dropbox by 768.9% in the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after purchasing an additional 1,361 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on DBX. Citigroup upped their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. UBS Group upped 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.

Dropbox Trading Up 0.0%

Shares of NASDAQ DBX traded up $0.01 during midday trading on Thursday, hitting $28.67. The company's stock had a trading volume of 3,298,312 shares, compared to its average volume of 3,586,028. The business's 50 day moving average is $27.89 and its two-hundred day moving average is $28.76. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The firm has a market cap of $8.07 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68.

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, topping the consensus estimate of $0.62 by $0.08. The company 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 132.63% and a net margin of 17.75%. Dropbox's quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. On average, analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Karen Peacock sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the transaction, the director now directly owns 25,295 shares in the company, valued at approximately $721,666.35. This represents a 21.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now owns 367,791 shares in the company, valued at $9,772,206.87. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,027 shares of company stock worth $855,036. Corporate insiders own 28.59% of the company's stock.

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.