Dropbox, Inc. $DBX Stock Position Decreased by Vident Advisory LLC

Key Points

• Vident Advisory LLC significantly reduced its stake in Dropbox, selling 69,691 shares, which represents a 77.5% decrease in their holdings during the first quarter.
• Dropbox's most recent quarterly earnings exceeded analysts' expectations, reporting $0.71 earnings per share against a consensus of $0.63, although revenue showed a 1.4% year-over-year decline.
• Insider transactions included significant sales by the CEO and other insiders, with insiders selling a total of 562,072 shares worth nearly $15.9 million in the last 90 days.

Vident Advisory LLC trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 77.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,286 shares of the company's stock after selling 69,691 shares during the period. Vident Advisory LLC's holdings in Dropbox were worth $542,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DBX. Stifel Financial Corp acquired a new stake in Dropbox during the 4th quarter valued at $935,000. Captrust Financial Advisors grew its holdings in Dropbox by 7.1% during the 4th quarter. Captrust Financial Advisors now owns 80,124 shares of the company's stock valued at $2,407,000 after purchasing an additional 5,300 shares in the last quarter. BOKF NA acquired a new stake in Dropbox during the 4th quarter valued at $550,000. D. E. Shaw & Co. Inc. acquired a new stake in Dropbox during the 4th quarter valued at $9,189,000. Finally, Focus Partners Wealth acquired a new stake in Dropbox during the 4th quarter valued at $219,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider William T. Yoon sold 11,430 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $30.16, for a total value of $344,728.80. Following the transaction, the insider directly owned 223,662 shares in the company, valued at approximately $6,745,645.92. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $27.30, for a total transaction of $275,675.40. Following the completion of the sale, the insider owned 469,333 shares in the company, valued at approximately $12,812,790.90. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 314,333 shares of company stock worth $8,938,399. Company insiders own 29.95% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group decreased their price objective on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.33.

Dropbox Price Performance

DBX stock remained flat at $30.91 during mid-day trading on Friday. 2,280,425 shares of the company's stock traded hands, compared to its average volume of 3,058,630. The firm has a market cap of $8.34 billion, a P/E ratio of 18.85, a PEG ratio of 4.09 and a beta of 0.70. Dropbox, Inc. has a 52 week low of $24.25 and a 52 week high of $33.33. The stock's fifty day moving average is $28.05 and its two-hundred day moving average is $27.83.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The company had revenue of $625.70 million for the quarter, compared to the consensus estimate of $618.60 million. During the same period last year, the firm posted $0.60 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts expect that Dropbox, Inc. will post 1.64 EPS 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.