Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC decreased its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 21.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 35,090 shares of the company's stock after selling 9,860 shares during the period. Smith Group Asset Management LLC's holdings in Dropbox were worth $937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares in the last quarter. True Wealth Design LLC boosted its holdings in Dropbox by 191.0% in the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock worth $31,000 after acquiring an additional 680 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Dropbox in the fourth quarter valued at approximately $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 acquiring an additional 1,361 shares in the last quarter. Finally, Vision Financial Markets LLC purchased a new stake in shares of Dropbox during the fourth quarter valued at approximately $53,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Dropbox Price Performance

DBX traded up $0.40 on Friday, reaching $27.95. The company's stock had a trading volume of 2,351,807 shares, compared to its average volume of 3,397,067. Dropbox, Inc. has a 1 year low of $21.32 and a 1 year high of $33.33. The business's 50 day moving average is $28.75 and its 200 day moving average is $28.78. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 11.01 and a beta of 0.65.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The business's revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS. As a group, research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Activity at Dropbox

In other news, insider Ashraf Alkarmi sold 10,098 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.10, for a total value of $283,753.80. Following the sale, the insider owned 492,856 shares in the company, valued at approximately $13,849,253.60. This represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 319,000 shares of Dropbox stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $28.48, for a total value of $9,085,120.00. Following the completion of the transaction, the chief executive officer owned 8,266,666 shares of the company's stock, valued at $235,434,647.68. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,125 shares of company stock worth $13,222,405 over the last 90 days. Company 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.