Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 479,250 shares of the company's stock after selling 46,057 shares during the quarter. Legal & General Group Plc owned approximately 0.15% of Dropbox worth $14,397,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after acquiring an additional 365 shares during the period. Heron Bay Capital Management increased its stake in shares of Dropbox by 2.3% during the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after purchasing an additional 378 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in Dropbox by 4.8% during the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock valued at $305,000 after buying an additional 461 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Dropbox by 35.6% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock worth $54,000 after buying an additional 472 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

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

Dropbox Stock Performance

NASDAQ DBX traded down $0.46 during mid-day trading on Monday, reaching $26.65. 279,468 shares of the stock were exchanged, compared to its average volume of 3,604,453. The stock has a market capitalization of $8.04 billion, a PE ratio of 18.92, a PEG ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The business's fifty day simple moving average is $27.28 and its 200 day simple moving average is $28.29.

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

Insiders Place Their Bets

In related news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $26.94, for a total value of $67,350.00. Following the completion of the transaction, the chief financial officer now directly owns 565,068 shares in the company, valued at $15,222,931.92. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,264 shares of company stock valued at $2,886,749 over the last quarter. Company insiders own 28.59% 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.