Raymond James Financial Inc. Takes Position in Dropbox, Inc. (NASDAQ:DBX)

Raymond James Financial Inc. acquired a new stake in Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 83,588 shares of the company’s stock, valued at approximately $2,511,000.

Other institutional investors have also made changes to their positions in the company. Avion Wealth increased its stake in shares of Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox in the 4th quarter worth approximately $40,000. Allworth Financial LP raised its stake 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 buying an additional 365 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after purchasing an additional 482 shares during the last quarter. Finally, Vision Financial Markets LLC bought a new stake in shares of Dropbox during the 4th quarter worth $53,000. 94.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Dropbox Stock Performance

Shares of DBX stock opened at $26.56 on Friday. The firm has a fifty day moving average of $29.03 and a 200-day moving average of $28.06. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, sell-side analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 634,504 shares of company stock worth $18,935,530. Insiders own 28.59% of the company’s stock.

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.