SGL Investment Advisors Inc. Invests $513,000 in Dropbox, Inc. (NASDAQ:DBX)

SGL Investment Advisors Inc. acquired a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,067 shares of the company's stock, valued at approximately $513,000.

Several other large investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after purchasing an additional 424 shares during the period. Avion Wealth lifted its position in shares of Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock worth $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Dropbox in the 4th quarter worth approximately $40,000. Allworth Financial LP lifted its position in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares during the period. Finally, Huntington National Bank lifted its position in shares of Dropbox by 768.9% in the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after purchasing an additional 1,361 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DBX shares. UBS Group upped their price target on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Citigroup increased their target price 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.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the company's stock in a transaction that occurred 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. This represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William T. Yoon sold 5,449 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.94, for a total transaction of $157,694.06. Following the transaction, the insider now owns 245,837 shares in the company, valued at $7,114,522.78. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,792 shares of company stock worth $754,346. 29.95% of the stock is owned by corporate insiders.

Dropbox Stock Performance

NASDAQ:DBX traded down $0.21 during midday trading on Monday, reaching $28.70. 3,371,713 shares of the stock traded hands, compared to its average volume of 3,610,591. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The business has a 50-day moving average of $27.50 and a two-hundred day moving average of $28.70. The stock has a market capitalization of $8.08 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. Dropbox's revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.