Summit Trail Advisors LLC Has $659,000 Holdings in Dropbox, Inc. (NASDAQ:DBX)

Summit Trail Advisors LLC lifted its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 204.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,691 shares of the company's stock after buying an additional 16,574 shares during the period. Summit Trail Advisors LLC's holdings in Dropbox were worth $659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 424 shares during the period. True Wealth Design LLC raised its position in shares of Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock worth $31,000 after purchasing an additional 680 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox during the fourth quarter worth $40,000. Huntington National Bank raised its position in shares of 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 purchasing an additional 1,361 shares during the period. Finally, Vision Financial Markets LLC acquired a new stake in shares of Dropbox during the fourth quarter worth $53,000. Institutional investors own 94.84% of the company's stock.

Insider Transactions at Dropbox

In other Dropbox news, Director Karen Peacock sold 7,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the completion of the sale, the director owned 25,295 shares of the company's stock, valued at $721,666.35. The trade was a 21.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Regan sold 10,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $27.94, for a total value of $279,400.00. Following the completion of the sale, the chief financial officer directly owned 516,094 shares of the company's stock, valued at $14,419,666.36. This represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 466,125 shares of company stock valued at $13,222,405. Corporate insiders own 29.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DBX. UBS Group boosted their target price on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Citigroup boosted their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th.

Dropbox Stock Performance

Shares of DBX stock traded up $0.40 on Thursday, reaching $27.95. 2,351,807 shares of the company's stock traded hands, compared to its average volume of 3,397,067. Dropbox, Inc. has a 12-month low of $21.32 and a 12-month high of $33.33. The company has a market capitalization of $7.87 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 10.84 and a beta of 0.65. The business's 50 day moving average price is $28.76 and its two-hundred day moving average price is $28.80.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $619.56 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. Dropbox's revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Dropbox Company 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.