Blue Trust Inc. Has $109,000 Position in Dropbox, Inc. (NASDAQ:DBX)

Blue Trust Inc. increased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 23.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,616 shares of the company’s stock after buying an additional 682 shares during the period. Blue Trust Inc.’s holdings in Dropbox were worth $109,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after purchasing an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after buying an additional 365,893 shares during the period. Geode Capital Management LLC lifted its holdings in Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares during the period. 94.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.17, for a total value of $67,925.00. Following the transaction, the chief financial officer now owns 436,264 shares in the company, valued at $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the sale, the insider now owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 902,568 shares of company stock worth $26,729,180. Corporate insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

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 note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Dropbox Stock Performance

Shares of DBX stock opened at $32.20 on Friday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The stock has a 50 day simple moving average of $30.28 and a two-hundred day simple moving average of $26.87. The company has a market cap of $9.97 billion, a P/E ratio of 18.61, a PEG ratio of 1.63 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.16). The company had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same period last year, the firm posted $0.35 earnings per share. On average, research analysts predict that Dropbox, Inc. will post 1.49 earnings per share 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.