EverSource Wealth Advisors LLC Buys 424 Shares of Dropbox, Inc. (NASDAQ:DBX)

EverSource Wealth Advisors LLC increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 96.1% in the fourth quarter, HoldingsChannel reports. The fund owned 865 shares of the company’s stock after purchasing an additional 424 shares during the period. EverSource Wealth Advisors LLC’s holdings in Dropbox were worth $26,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avion Wealth lifted its position in 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. purchased a new position in shares of Dropbox in the fourth quarter valued at about $40,000. Allworth Financial LP raised its stake in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Dropbox by 39.0% during the fourth 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 during the period. Finally, Vision Financial Markets LLC bought a new stake in shares of Dropbox in the fourth quarter worth about $53,000. Institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the company’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 $296,500.00. Following the sale, the chief financial officer now owns 403,764 shares in the company, valued at approximately $11,971,602.60. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $245,106,646.90. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 634,504 shares of company stock valued at $18,935,530 over the last ninety days. Company insiders own 28.59% of the company’s stock.

Dropbox Trading Down 1.4 %

NASDAQ:DBX opened at $26.37 on Friday. The company has a 50-day moving average price of $29.42 and a 200-day moving average price of $27.90. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Equities analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.