31,118 Shares in Dropbox, Inc. (NASDAQ:DBX) Purchased by Stifel Financial Corp

Stifel Financial Corp bought a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 31,118 shares of the company's stock, valued at approximately $935,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Dropbox by 96.1% in 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 during the last quarter. Avion Wealth boosted its holdings in shares of Dropbox by 4,472.7% in 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. acquired a new stake in shares of Dropbox during the 4th quarter valued at $40,000. Allworth Financial LP increased its position in 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 purchasing an additional 365 shares during the period. Finally, Huntington National Bank grew its position in shares of Dropbox by 768.9% during the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after buying an additional 1,361 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $28.29, for a total value of $70,725.00. Following the completion of the sale, the chief financial officer now directly owns 562,568 shares of the company's stock, valued at approximately $15,915,048.72. This represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Cox sold 3,765 shares of the 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 sale, the insider now directly owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,265 shares of company stock worth $303,520. Company insiders own 29.95% of the company's stock.

Dropbox Stock Performance

Shares of NASDAQ DBX traded up $0.04 during mid-day trading on Thursday, reaching $29.65. 855,523 shares of the company's stock were exchanged, compared to its average volume of 3,592,826. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The company's 50-day moving average is $27.22 and its 200-day moving average is $28.59. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.70 and a beta of 0.68.

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

Analyst Ratings Changes

DBX has been the subject of several research reports. Citigroup increased their price target on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. UBS Group boosted their target price on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, May 9th.

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.