SG Americas Securities LLC acquired a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,231 shares of the company's stock, valued at approximately $647,000.
Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after purchasing an additional 424 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of 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 during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox in the fourth quarter valued at approximately $40,000. Allworth Financial LP lifted its position in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after buying an additional 365 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Dropbox by 768.9% during the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after buying an additional 1,361 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Dropbox
In other news, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at $9,772,206.87. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Cox sold 2,339 shares of Dropbox stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $67,690.66. Following the completion of the sale, the insider now directly owns 378,427 shares of the company's stock, valued at $10,951,677.38. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 364,125 shares of company stock worth $10,366,110. Company insiders own 28.59% of the company's stock.
Dropbox Price Performance
Shares of DBX stock traded down $0.30 during trading on Wednesday, hitting $28.54. 2,591,949 shares of the stock traded hands, compared to its average volume of 3,387,293. Dropbox, Inc. has a 52-week low of $21.32 and a 52-week high of $33.33. The firm has a market capitalization of $8.03 billion, a P/E ratio of 18.65 and a beta of 0.66. The firm's fifty day moving average price is $28.69 and its 200-day moving average price is $28.87.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results 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. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The company had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same quarter last year, the firm earned $0.58 earnings per share. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on DBX. Citigroup raised their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. UBS Group upped their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th.
Read Our Latest Stock Report on DBX
Dropbox Company Profile
(
Free Report)
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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