Dropbox, Inc. (NASDAQ:DBX) Stock Holdings Boosted by Corient Private Wealth LLC

Corient Private Wealth LLC increased its position in Dropbox, Inc. (NASDAQ:DBX) by 164.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,585 shares of the company’s stock after acquiring an additional 16,527 shares during the period. Corient Private Wealth LLC’s holdings in Dropbox were worth $798,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DBX. Natixis Advisors LLC acquired a new stake in shares of Dropbox in the third quarter valued at approximately $270,000. Thrivent Financial for Lutherans grew its holdings in Dropbox by 12.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 65,771 shares of the company’s stock worth $1,672,000 after buying an additional 7,385 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after acquiring an additional 228,685 shares during the period. Cerity Partners LLC raised its stake in Dropbox by 21.2% during the 3rd quarter. Cerity Partners LLC now owns 96,537 shares of the company’s stock valued at $2,455,000 after acquiring an additional 16,917 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Dropbox by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 155,131 shares of the company’s stock worth $3,945,000 after acquiring an additional 12,248 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Dropbox Price Performance

Dropbox stock opened at $26.93 on Friday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The stock has a market capitalization of $8.13 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The firm has a 50 day simple moving average of $29.11 and a 200-day simple moving average of $28.01.

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

Insider Activity at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 634,504 shares of company stock valued at $18,935,530 over the last 90 days. 28.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.