Vanguard Group Inc. Reduces Holdings in Dropbox, Inc. (NASDAQ:DBX)

Vanguard Group Inc. reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 27,494,824 shares of the company’s stock after selling 463,446 shares during the period. Vanguard Group Inc. owned 0.09% of Dropbox worth $825,945,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DBX. EverSource Wealth Advisors LLC increased its position in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares during the period. Avion Wealth grew its position in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Dropbox in the 4th quarter valued at $40,000. Allworth Financial LP raised its position in Dropbox by 33.5% in 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 last quarter. Finally, V Square Quantitative Management LLC raised its position in Dropbox by 39.0% in the 4th 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. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Trading Down 1.4 %

Dropbox stock opened at $26.56 on Friday. The stock has a 50 day moving average of $29.03 and a two-hundred day moving average of $28.06. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share 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 analysts’ expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Equities analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the transaction, the chief financial officer now owns 413,764 shares of the company’s stock, valued at $12,570,150.32. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Cox sold 3,765 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the transaction, the insider now owns 309,550 shares of the company’s stock, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 634,504 shares of company stock worth $18,935,530. Company insiders own 28.59% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group lifted their price objective on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th.

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.