First Trust Advisors LP Has $72.55 Million Position in Dropbox, Inc. (NASDAQ:DBX)

First Trust Advisors LP grew its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 12.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,415,093 shares of the company's stock after acquiring an additional 262,871 shares during the quarter. First Trust Advisors LP owned 0.78% of Dropbox worth $72,549,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DBX. EverSource Wealth Advisors LLC increased its holdings in shares of 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. Avion Wealth grew its holdings in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock worth $30,000 after buying an additional 984 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Dropbox during the fourth quarter worth about $40,000. Allworth Financial LP grew its holdings in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after buying an additional 365 shares in the last quarter. Finally, Huntington National Bank grew its holdings 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 buying an additional 1,361 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Insider Activity at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $32.17, for a total transaction of $80,425.00. Following the completion of the transaction, the chief financial officer now owns 398,764 shares in the company, valued at approximately $12,828,237.88. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,765 shares of company stock valued at $393,695. Insiders own 28.59% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group increased their price objective on Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, January 6th.

Dropbox Stock Performance

NASDAQ DBX traded up $0.22 during trading hours on Friday, hitting $28.58. 2,443,596 shares of the company traded hands, compared to its average volume of 3,638,416. The business's 50-day moving average is $26.78 and its 200-day moving average is $28.36. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

About Dropbox

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.