Crossmark Global Holdings Inc. Increases Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Crossmark Global Holdings Inc. lifted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 36.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,407 shares of the company's stock after buying an additional 67,805 shares during the period. Crossmark Global Holdings Inc. owned approximately 0.08% of Dropbox worth $6,822,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Dropbox by 96.1% during the fourth 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. True Wealth Design LLC lifted its holdings in Dropbox by 191.0% in the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock valued at $31,000 after acquiring an additional 680 shares during the period. SBI Securities Co. Ltd. purchased a new position in Dropbox in the fourth quarter worth about $40,000. Huntington National Bank boosted its position in Dropbox by 768.9% in the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after purchasing an additional 1,361 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Dropbox by 27.3% in the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock worth $61,000 after purchasing an additional 490 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Price Performance

Shares of NASDAQ:DBX traded up $0.17 during trading on Wednesday, hitting $27.53. 315,062 shares of the company's stock were exchanged, compared to its average volume of 3,388,969. Dropbox, Inc. has a 52-week low of $21.32 and a 52-week high of $33.33. The business's 50-day simple moving average is $28.70 and its 200 day simple moving average is $28.74. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 10.78 and a beta of 0.65.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (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 firm had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same quarter last year, the business posted $0.58 earnings per share. The firm's revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dropbox news, CEO Andrew Houston sold 92,000 shares of Dropbox stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $27.96, for a total value of $2,572,320.00. Following the sale, the chief executive officer owned 8,266,666 shares of the company's stock, valued at $231,135,981.36. The trade was a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction that occurred 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 sale, the chief financial officer directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,125 shares of company stock worth $13,222,405. Insiders own 28.59% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DBX shares. Citigroup raised their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. UBS Group raised 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 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.