Rehmann Capital Advisory Group Invests $675,000 in Dropbox, Inc. (NASDAQ:DBX)

Rehmann Capital Advisory Group bought a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,264 shares of the company's stock, valued at approximately $675,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale raised its stake in shares of Dropbox by 5.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,875,968 shares of the company's stock valued at $49,366,000 after purchasing an additional 95,205 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Dropbox by 36.1% in the first quarter. Crossmark Global Holdings Inc. now owns 255,407 shares of the company's stock worth $6,822,000 after purchasing an additional 67,805 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Dropbox by 177.2% during the first quarter. Envestnet Asset Management Inc. now owns 109,549 shares of the company's stock worth $2,926,000 after purchasing an additional 70,023 shares during the period. Resonant Capital Advisors LLC lifted its position in shares of Dropbox by 6.0% in the 1st quarter. Resonant Capital Advisors LLC now owns 11,744 shares of the company's stock worth $314,000 after buying an additional 668 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its holdings in shares of Dropbox by 15.7% during the first quarter. Aaron Wealth Advisors LLC now owns 11,745 shares of the company's stock valued at $314,000 after purchasing an additional 1,594 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DBX shares. Citigroup upped their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. UBS Group boosted their target price on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider William T. Yoon sold 5,449 shares of Dropbox stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $157,694.06. Following the transaction, the insider directly owned 245,837 shares of the company's stock, valued at $7,114,522.78. The trade was a 2.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ashraf Alkarmi sold 10,098 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.10, for a total transaction of $283,753.80. Following the transaction, the insider owned 492,856 shares of the company's stock, valued at approximately $13,849,253.60. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 466,125 shares of company stock worth $13,222,405 in the last 90 days. Company insiders own 29.95% of the company's stock.

Dropbox Trading Down 1.3%

Shares of DBX stock opened at $27.32 on Friday. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 10.89 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 stock's fifty day simple moving average is $28.65 and its 200-day simple moving average is $28.72.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The company had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. During the same quarter last year, the business posted $0.58 EPS. The company's revenue for the quarter was down 1.0% on a year-over-year basis. On average, sell-side analysts predict 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.

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