First Horizon Advisors Inc. Has $44,000 Position in Dropbox, Inc. (NASDAQ:DBX)

First Horizon Advisors Inc. cut its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 90.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,636 shares of the company's stock after selling 15,267 shares during the period. First Horizon Advisors Inc.'s holdings in Dropbox were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised 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 worth $26,000 after acquiring an additional 424 shares during the period. True Wealth Design LLC grew its position 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 purchasing an additional 680 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Dropbox in the fourth quarter valued at $40,000. Huntington National Bank grew its position in Dropbox by 768.9% in the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock valued at $46,000 after purchasing an additional 1,361 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Dropbox by 27.3% in the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after purchasing an additional 490 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DBX has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th.

Dropbox Trading Down 2.6%

Shares of DBX traded down $0.71 during midday trading on Friday, reaching $26.61. The stock had a trading volume of 2,712,738 shares, compared to its average volume of 3,404,677. The firm has a 50 day simple moving average of $28.65 and a 200-day simple moving average of $28.72. Dropbox, Inc. has a one year low of $21.32 and a one year high of $33.33. The firm has a market cap of $7.49 billion, a PE ratio of 17.39, a P/E/G ratio of 10.89 and a beta of 0.65.

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

Insider Buying and Selling

In other news, Director Lisa M. Campbell sold 5,239 shares of Dropbox stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $151,616.66. Following the completion of the sale, the director directly owned 19,220 shares in the company, valued at approximately $556,226.80. The trade was a 21.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 92,000 shares of Dropbox stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $27.96, for a total transaction of $2,572,320.00. Following the completion of the sale, the chief executive officer owned 8,266,666 shares of the company's stock, valued at approximately $231,135,981.36. The trade was a 1.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,125 shares of company stock valued at $13,222,405 in the last quarter. Corporate insiders own 29.95% of the company's stock.

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.