Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 84.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,375 shares of the company's stock after selling 164,749 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Dropbox were worth $943,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DBX. Empowered Funds LLC increased its holdings in Dropbox by 68.0% during the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock valued at $1,086,000 after buying an additional 14,629 shares during the period. Intech Investment Management LLC increased its holdings in shares of Dropbox by 185.2% in the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company's stock valued at $4,521,000 after acquiring an additional 97,725 shares during the period. HighTower Advisors LLC raised its position in shares of Dropbox by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock worth $832,000 after acquiring an additional 1,131 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Dropbox during the 4th quarter worth $25,375,000. Finally, CIBC Asset Management Inc bought a new stake in Dropbox during the fourth quarter valued at about $242,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Trading Up 0.1%

Shares of NASDAQ:DBX traded up $0.04 during trading on Friday, reaching $28.09. The stock had a trading volume of 3,202,713 shares, compared to its average volume of 3,435,895. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The company has a market capitalization of $7.91 billion, a P/E ratio of 19.92, a PEG ratio of 1.70 and a beta of 0.66. The firm's 50-day simple moving average is $28.36 and its 200 day simple moving average is $28.86.

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

Analyst Ratings Changes

Several research firms have commented on DBX. Citigroup increased their price target on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. UBS Group raised their price target on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 367,791 shares in the company, valued at $9,772,206.87. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric Cox sold 2,339 shares of Dropbox stock in a transaction that occurred 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 directly owns 378,427 shares in the company, valued at $10,951,677.38. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,527 shares of company stock worth $10,012,106. 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.