1,170 Shares in Dropbox, Inc. (NASDAQ:DBX) Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC purchased a new position in Dropbox, Inc. (NASDAQ:DBX) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 1,170 shares of the company’s stock, valued at approximately $28,000.

Several other institutional investors also recently modified their holdings of DBX. Federated Hermes Inc. grew its position in Dropbox by 68.6% during the 3rd quarter. Federated Hermes Inc. now owns 120,471 shares of the company’s stock valued at $3,280,000 after purchasing an additional 49,000 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Dropbox by 29,175.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock valued at $32,000 after purchasing an additional 1,167 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Dropbox during the 3rd quarter valued at about $277,000. Gotham Asset Management LLC grew its position in Dropbox by 13.4% during the 3rd quarter. Gotham Asset Management LLC now owns 16,854 shares of the company’s stock valued at $459,000 after purchasing an additional 1,994 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Dropbox by 41.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,745,782 shares of the company’s stock valued at $47,538,000 after purchasing an additional 514,898 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Insider Transactions at Dropbox

In other news, CEO Andrew Houston sold 82,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total value of $1,922,080.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.11, for a total transaction of $69,330.00. Following the sale, the chief financial officer now owns 594,995 shares in the company, valued at approximately $13,750,334.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The disclosure for this sale can be found here. Insiders have sold 198,218 shares of company stock worth $4,534,619 in the last quarter. Company insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup cut their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.56.

Dropbox Stock Up 2.7 %

Shares of NASDAQ DBX opened at $22.42 on Friday. The firm’s 50-day moving average price is $22.70 and its 200-day moving average price is $25.87. The company has a market cap of $7.40 billion, a PE ratio of 14.85, a PEG ratio of 1.52 and a beta of 0.68. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The firm had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $628.81 million. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.26 EPS for the current fiscal 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.