Vivaldi Capital Management LP Acquires Shares of 9,159 Dropbox, Inc. (NASDAQ:DBX)

Vivaldi Capital Management LP acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,159 shares of the company's stock, valued at approximately $293,000.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in Dropbox by 96.1% during 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 during the last quarter. Avion Wealth raised its stake in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after buying an additional 984 shares during the last quarter. True Wealth Design LLC raised its stake in Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock valued at $31,000 after buying an additional 680 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Dropbox during the fourth quarter valued at $40,000. Finally, Allworth Financial LP raised its stake in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after buying an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Insider Buying and Selling

In related news, insider Eric Cox sold 2,339 shares of Dropbox stock in a transaction on Friday, May 16th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the completion of the sale, the chief financial officer now directly owns 367,791 shares of the company's stock, valued at $9,772,206.87. The trade was a 0.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,792 shares of company stock valued at $754,346 over the last 90 days. Company insiders own 29.95% of the company's stock.

Dropbox Trading Down 0.7%

Dropbox stock opened at $28.70 on Tuesday. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.70 and a beta of 0.68. The stock has a fifty day simple moving average of $27.50 and a two-hundred day simple moving average of $28.70. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. During the same quarter last year, the company earned $0.58 EPS. The company's quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.

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