Dropbox, Inc. $DBX Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard trimmed its Dropbox stake by 6.5% in Q4, selling 1,571,456 shares and ending the period with 22,562,154 shares (about 8.72% of the company) valued at roughly $627.2 million.
• Insider selling has been notable: insiders sold 247,519 shares worth about $5.95 million in the past 90 days, including CTO Ali Dasdan and Ashraf Alkarmi, though corporate insiders still own 35.48% of the stock.
• Analysts are cautious with a MarketBeat consensus rating of "Reduce" and a $27.50 price target after mixed downgrades, even as Dropbox slightly beat quarterly estimates (EPS $0.68 vs. $0.66; revenue $636.2M vs. $627.8M).

Vanguard Group Inc. cut its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,562,154 shares of the company's stock after selling 1,571,456 shares during the period. Vanguard Group Inc. owned approximately 8.72% of Dropbox worth $627,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rossby Financial LCC boosted its position in shares of Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after buying an additional 527 shares during the period. Palisade Asset Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter valued at $30,000. First Horizon Corp acquired a new stake in shares of Dropbox during the 3rd quarter valued at $31,000. LRI Investments LLC lifted its position in shares of Dropbox by 666.7% during the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company's stock valued at $35,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock valued at $36,000 after acquiring an additional 558 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Ali Dasdan sold 7,306 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $24.89, for a total transaction of $181,846.34. Following the completion of the sale, the chief technology officer owned 499,379 shares of the company's stock, valued at approximately $12,429,543.31. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ashraf Alkarmi sold 12,472 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total transaction of $324,272.00. Following the sale, the insider directly owned 414,661 shares of the company's stock, valued at approximately $10,781,186. The trade was a 2.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 247,519 shares of company stock worth $5,952,284. Corporate insiders own 35.48% of the company's stock.

Wall Street Analysts Forecast Growth

DBX has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Royal Bank Of Canada dropped their price target on shares of Dropbox from $35.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, February 20th. Wall Street Zen cut shares of Dropbox from a "buy" rating to a "hold" rating in a report on Friday, January 23rd. William Blair restated an "underperform" rating on shares of Dropbox in a report on Monday, March 23rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Dropbox in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Dropbox has a consensus rating of "Reduce" and a consensus price target of $27.50.

Dropbox Price Performance

NASDAQ:DBX opened at $24.93 on Monday. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The firm has a market capitalization of $6.01 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.76 and a beta of 0.64. The firm has a 50-day moving average price of $24.32 and a 200 day moving average price of $26.61.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.02. The firm had revenue of $636.20 million during the quarter, compared to analyst estimates of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, research analysts expect that Dropbox, Inc. will post 2.03 EPS for the current year.

Dropbox Company Profile

Dropbox, Inc NASDAQ: DBX is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.

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