Dropbox, Inc. (NASDAQ:DBX) Holdings Decreased by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 36.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,151 shares of the company's stock after selling 38,566 shares during the quarter. Guggenheim Capital LLC's holdings in Dropbox were worth $2,047,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Promethos Capital LLC purchased a new stake in shares of Dropbox during the 4th quarter worth about $100,000. XTX Topco Ltd grew its stake in Dropbox by 21.1% during the fourth quarter. XTX Topco Ltd now owns 54,188 shares of the company's stock worth $1,628,000 after buying an additional 9,450 shares during the period. CreativeOne Wealth LLC grew its stake in Dropbox by 34.7% during the fourth quarter. CreativeOne Wealth LLC now owns 12,274 shares of the company's stock worth $369,000 after buying an additional 3,159 shares during the period. Sterling Capital Management LLC increased its position in shares of Dropbox by 40.2% in the fourth quarter. Sterling Capital Management LLC now owns 11,112 shares of the company's stock worth $334,000 after acquiring an additional 3,187 shares in the last quarter. Finally, Paralel Advisors LLC raised its stake in shares of Dropbox by 10.0% in the 4th quarter. Paralel Advisors LLC now owns 103,320 shares of the company's stock valued at $3,104,000 after acquiring an additional 9,384 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at $12,755,738.16. The trade was a 0.63 % 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, insider Eric Cox sold 3,765 shares of the firm'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 completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 13,765 shares of company stock valued at $393,695 over the last three months. 28.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Dropbox Price Performance

DBX traded up $0.18 during trading hours on Friday, reaching $28.54. 709,971 shares of the stock traded hands, compared to its average volume of 3,619,583. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.70 and a beta of 0.75. The firm's fifty day simple moving average is $26.88 and its two-hundred day simple moving average is $28.31.

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