Thrivent Financial for Lutherans Has $1.57 Million Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Thrivent Financial for Lutherans lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 20.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,374 shares of the company’s stock after selling 13,397 shares during the period. Thrivent Financial for Lutherans’ holdings in Dropbox were worth $1,573,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC lifted its stake in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth raised its holdings 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 last quarter. SBI Securities Co. Ltd. bought a new position in shares of Dropbox during the fourth quarter valued at about $40,000. Allworth Financial LP boosted its holdings in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC grew 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 worth $52,000 after purchasing an additional 482 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity

In related news, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. The trade was a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 632,004 shares of company stock valued at $18,859,580 in the last three months. Company insiders own 28.59% of the company’s stock.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $26.56 on Monday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The company has a market capitalization of $8.01 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The business has a fifty day moving average price of $29.03 and a two-hundred day moving average price of $28.09.

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

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased 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 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.