Raymond James Financial Inc. Makes New $2.51 Million Investment in Dropbox, Inc. (NASDAQ:DBX)

Raymond James Financial Inc. purchased a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 83,588 shares of the company's stock, valued at approximately $2,511,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC increased its holdings in shares of Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth increased its stake in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after purchasing an additional 984 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Dropbox in the fourth quarter worth $40,000. Allworth Financial LP lifted its stake 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 during the period. 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 valued at $46,000 after buying an additional 1,361 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the sale, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the transaction, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,765 shares of company stock worth $383,995 over the last quarter. 28.59% of the stock is currently owned by insiders.

Dropbox Price Performance

NASDAQ:DBX traded up $0.41 during midday trading on Monday, hitting $29.02. The company's stock had a trading volume of 562,486 shares, compared to its average volume of 3,621,208. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm has a market cap of $8.76 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.70 and a beta of 0.68. The firm's 50 day moving average is $26.77 and its 200-day moving average is $28.45.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $638.61 million. As a group, analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

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.