Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,719,595 shares of the company's stock after selling 1,775,229 shares during the quarter. Vanguard Group Inc. owned approximately 8.52% of Dropbox worth $686,970,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DBX. SG Americas Securities LLC acquired a new stake in Dropbox during the 1st quarter worth $647,000. Rehmann Capital Advisory Group acquired a new stake in Dropbox during the 1st quarter worth $675,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Dropbox by 8.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,761,252 shares of the company's stock worth $52,908,000 after purchasing an additional 137,916 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Dropbox by 31.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 39,526 shares of the company's stock worth $1,187,000 after purchasing an additional 9,570 shares during the last quarter. Finally, Commerce Bank boosted its stake in Dropbox by 94.9% during the 1st quarter. Commerce Bank now owns 203,052 shares of the company's stock worth $5,424,000 after purchasing an additional 98,867 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. UBS Group lowered their price target on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th.

Insider Buying and Selling at Dropbox

In related news, insider Ashraf Alkarmi sold 10,098 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.10, for a total transaction of $283,753.80. Following the completion of the sale, the insider directly owned 492,856 shares of the company's stock, valued at $13,849,253.60. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Houston sold 92,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $27.96, for a total value of $2,572,320.00. Following the completion of the transaction, the chief executive officer owned 8,266,666 shares of the company's stock, valued at $231,135,981.36. The trade was a 1.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 450,598 shares of company stock valued at $12,770,529 over the last three months. 29.95% of the stock is currently owned by company insiders.

Dropbox Stock Up 0.3%

DBX stock traded up $0.09 during mid-day trading on Friday, hitting $27.82. 3,517,253 shares of the company were exchanged, compared to its average volume of 3,213,328. The firm has a market capitalization of $7.51 billion, a P/E ratio of 16.96, a PEG ratio of 3.74 and a beta of 0.64. The business has a fifty day simple moving average of $27.70 and a 200-day simple moving average of $28.10. Dropbox, Inc. has a 12-month low of $22.43 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. The company had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. Dropbox's revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. Research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

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.