Outfitter Financial LLC Sells 29,350 Shares of Dropbox, Inc. (NASDAQ:DBX)

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

A number of other large investors have also recently bought and sold shares of the business. Bessemer Group Inc. raised its position in shares of Dropbox by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 126,321 shares of the company's stock worth $3,794,000 after buying an additional 333 shares in the last quarter. Heron Bay Capital Management boosted its position in shares of Dropbox by 2.3% during the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock valued at $504,000 after purchasing an additional 378 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Dropbox by 5.6% during the 1st quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock valued at $198,000 after purchasing an additional 395 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings 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 valued at $256,000 after purchasing an additional 407 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 424 shares during the last quarter. Institutional investors own 94.84% of the company's stock.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 92,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $27.96, for a total transaction of $2,572,320.00. Following the transaction, the chief executive officer owned 8,266,666 shares of the company's stock, valued at approximately $231,135,981.36. This represents a 1.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lisa M. Campbell sold 5,239 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $151,616.66. Following the transaction, the director directly owned 19,220 shares in the company, valued at approximately $556,226.80. This represents a 21.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 466,125 shares of company stock worth $13,222,130 over the last quarter. Insiders own 28.59% of the company's stock.

Dropbox Stock Up 0.6%

Shares of DBX traded up $0.16 during trading hours on Monday, reaching $27.22. The company's stock had a trading volume of 502,150 shares, compared to its average volume of 3,417,605. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 10.64 and a beta of 0.65. Dropbox, Inc. has a 1-year low of $21.32 and a 1-year high of $33.33. The company has a 50 day moving average of $28.38 and a two-hundred day moving average of $28.55.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $624.70 million for 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 firm's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. As a group, analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group boosted their price objective on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Citigroup boosted 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.

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.