Wealth Enhancement Advisory Services LLC Purchases 11,713 Shares of Dropbox, Inc. (NASDAQ:DBX)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 37.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,088 shares of the company's stock after acquiring an additional 11,713 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Dropbox were worth $1,151,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC grew its position in Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after acquiring an additional 424 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Dropbox by 191.0% in the 4th 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. bought a new stake in Dropbox in the fourth quarter worth $40,000. Huntington National Bank increased its position 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. Finally, Vision Financial Markets LLC acquired a new position in Dropbox during the fourth quarter worth $53,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dropbox

In related news, Director Karen Peacock sold 7,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total transaction of $199,710.00. Following the transaction, the director owned 25,295 shares of the company's stock, valued at approximately $721,666.35. The trade was a 21.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 319,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $28.48, for a total transaction of $9,085,120.00. Following the completion of the sale, the chief executive officer directly owned 8,266,666 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 466,125 shares of company stock valued at $13,222,405. 29.95% of the stock is owned by corporate insiders.

Dropbox Trading Up 1.5%

DBX traded up $0.40 during trading on Friday, hitting $27.95. The stock had a trading volume of 2,351,807 shares, compared to its average volume of 3,397,067. The firm has a market cap of $7.87 billion, a PE ratio of 18.27, a P/E/G ratio of 10.84 and a beta of 0.65. Dropbox, Inc. has a 12 month low of $21.32 and a 12 month high of $33.33. The company has a 50 day simple moving average of $28.76 and a 200-day simple moving average of $28.80.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data 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 79.66% and a net margin of 18.50%. The business had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. During the same period in the previous year, the company posted $0.58 earnings per share. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DBX has been the subject of a number of analyst reports. UBS Group boosted their price target 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 report on Friday, May 9th.

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.