Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Outfitter Financial LLC

Outfitter Financial LLC reduced its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 61.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,405 shares of the company's stock after selling 29,350 shares during the quarter. Outfitter Financial LLC's holdings in Dropbox were worth $492,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of Dropbox by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 126,321 shares of the company's stock worth $3,794,000 after purchasing an additional 333 shares in the last quarter. Heron Bay Capital Management lifted its stake in shares of Dropbox by 2.3% during the fourth quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after purchasing an additional 378 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Dropbox by 5.6% during the first quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock worth $198,000 after purchasing an additional 395 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Dropbox by 5.1% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock worth $256,000 after purchasing an additional 407 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after acquiring an additional 424 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dropbox

In other news, Director Karen Peacock sold 7,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total transaction of $199,710.00. Following the completion of the sale, the director owned 25,295 shares in the company, valued at approximately $721,666.35. This represents a 21.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 92,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were 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. This trade represents a 1.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 466,125 shares of company stock valued at $13,222,130 over the last three months. 29.95% of the stock is owned by company insiders.

Dropbox Price Performance

Shares of NASDAQ DBX traded down $0.02 during midday trading on Friday, hitting $26.92. 154,506 shares of the company's stock were exchanged, compared to its average volume of 3,416,806. The stock's 50 day moving average price is $28.42 and its 200-day moving average price is $28.58. The firm has a market cap of $7.58 billion, a P/E ratio of 17.60, a PEG ratio of 10.53 and a beta of 0.65. Dropbox, Inc. has a twelve month low of $21.32 and a twelve month high of $33.33.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DBX. Citigroup boosted their price objective on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, May 9th. UBS Group boosted their price objective on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report 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.

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