Xponance Inc. Reduces Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Xponance Inc. decreased its stake in Dropbox, Inc. (NASDAQ:DBX) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,094 shares of the company’s stock after selling 888 shares during the quarter. Xponance Inc.’s holdings in Dropbox were worth $1,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in Dropbox during the 4th quarter valued at $26,000. Fifth Third Bancorp boosted its holdings in Dropbox by 424.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after acquiring an additional 878 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings 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 acquiring an additional 1,167 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in Dropbox during the 3rd quarter valued at $62,000. Finally, Shell Asset Management Co. boosted its holdings in Dropbox by 51.4% during the 3rd quarter. Shell Asset Management Co. now owns 2,643 shares of the company’s stock valued at $72,000 after acquiring an additional 897 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $23.47 on Wednesday. The stock has a market capitalization of $8.07 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 2.59 and a beta of 0.71. Dropbox, Inc. has a 1-year low of $19.55 and a 1-year high of $33.43. The business has a fifty day moving average price of $24.17 and a 200 day moving average price of $27.38.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $635.00 million for the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DBX. KeyCorp boosted their price objective on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 19th. JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Citigroup lowered their target price on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. cut Dropbox from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $30.00 in a report on Friday, February 16th. Finally, Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $34.00 to $28.00 in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.78.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total transaction of $97,500.00. Following the transaction, the chief financial officer now directly owns 434,761 shares of the company’s stock, valued at approximately $14,129,732.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total transaction of $97,500.00. Following the transaction, the chief financial officer now directly owns 434,761 shares of the company’s stock, valued at approximately $14,129,732.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total value of $3,913,040.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $197,242,650.76. The disclosure for this sale can be found here. Insiders sold 189,721 shares of company stock worth $4,548,575 in the last three months. 26.40% of the stock is owned by insiders.

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.