Mitsubishi UFJ Trust & Banking Corp Has $31.72 Million Stock Position in Dropbox, Inc. $DBX

Key Points

• Mitsubishi UFJ Trust & Banking trimmed its Dropbox stake by 8.6% to 1,140,435 shares, leaving a position worth about $31.72 million (roughly 0.44% of the company) after selling 107,669 shares in Q4.
• Wall Street sentiment has turned cautious — the stock's average rating is listed as "Reduce" with a consensus target of $27.50, after several firms cut price targets (e.g., UBS to $23 and JPMorgan to $25).
• Insider selling has been notable: CEO Andrew Houston sold 111,166 shares at about $22.89, and insiders sold 412,021 shares worth roughly $10.17 million over the last quarter, though insiders still own 35.48% of the company.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,140,435 shares of the company's stock after selling 107,669 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.44% of Dropbox worth $31,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. WealthCollab LLC boosted its position in shares of Dropbox by 20.6% in the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company's stock valued at $65,000 after acquiring an additional 403 shares during the period. Lakewood Asset Management LLC increased its position in Dropbox by 1.0% during the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company's stock worth $1,248,000 after acquiring an additional 458 shares during the period. Kera Capital Partners Inc. increased its position in Dropbox by 3.7% during the third quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company's stock worth $391,000 after acquiring an additional 460 shares during the period. Merit Financial Group LLC increased its position in Dropbox by 4.4% during the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company's stock worth $344,000 after acquiring an additional 480 shares during the period. Finally, Rossby Financial LCC increased its position in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after acquiring an additional 527 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group decreased their price target on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating on the stock in a research report on Friday, February 20th. Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, January 21st. Royal Bank Of Canada cut their price objective on shares of Dropbox from $35.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $27.50.

Dropbox Stock Performance

Shares of DBX opened at $24.31 on Thursday. The company has a 50-day simple moving average of $24.33 and a 200-day simple moving average of $26.65. The firm has a market capitalization of $5.86 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.69 and a beta of 0.61. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $32.40.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. The firm had revenue of $636.20 million for 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 business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. As a group, equities analysts forecast that Dropbox, Inc. will post 2.03 earnings per share for the current year.

Insider Buying and Selling at Dropbox

In other Dropbox news, CEO Andrew Houston sold 111,166 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $22.89, for a total value of $2,544,589.74. Following the sale, the chief executive officer owned 8,266,666 shares of the company's stock, valued at $189,223,984.74. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Ali Dasdan sold 7,306 shares of the business's stock in a transaction 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 directly owned 499,379 shares in the company, valued at $12,429,543.31. This trade represents a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 412,021 shares of company stock worth $10,173,406. Corporate insiders own 35.48% of the company's stock.

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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