Crossmark Global Holdings Inc. Buys 67,805 Shares of Dropbox, Inc. (NASDAQ:DBX)

Crossmark Global Holdings Inc. raised its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 36.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 255,407 shares of the company's stock after buying an additional 67,805 shares during the quarter. Crossmark Global Holdings Inc. owned 0.08% of Dropbox worth $6,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new stake in shares of Dropbox during the 4th quarter worth approximately $511,000. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox during the 4th quarter worth approximately $40,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock worth $87,537,000 after purchasing an additional 117,767 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Dropbox during the 4th quarter worth approximately $2,511,000. Finally, Ashton Thomas Private Wealth LLC grew its holdings in shares of Dropbox by 6.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 30,639 shares of the company's stock worth $920,000 after purchasing an additional 1,828 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $27.94, for a total value of $279,400.00. Following the completion of the transaction, the chief financial officer owned 516,094 shares in the company, valued at approximately $14,419,666.36. The trade was a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen Peacock sold 7,000 shares of the business's stock in a transaction 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 sale, the director owned 25,295 shares of the company's stock, valued at approximately $721,666.35. The trade was a 21.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 466,125 shares of company stock worth $13,222,405. 29.95% of the stock is owned by company insiders.

Dropbox Price Performance

Shares of Dropbox stock traded down $0.71 during midday trading on Friday, hitting $26.61. 2,712,738 shares of the company were exchanged, compared to its average volume of 3,405,497. The firm has a market cap of $7.49 billion, a P/E ratio of 17.39, a PEG ratio of 10.75 and a beta of 0.65. Dropbox, Inc. has a 52 week low of $21.32 and a 52 week high of $33.33. The firm has a 50 day simple moving average of $28.61 and a 200-day simple moving average of $28.69.

Dropbox (NASDAQ:DBX - Get Free Report) last posted 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. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The business had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. During the same quarter last year, the company earned $0.58 EPS. Dropbox's revenue was down 1.0% on a year-over-year basis. Equities research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.