Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in Dropbox, Inc. (NASDAQ:DBX) by 1.7% during the 4th quarter, according to the company in 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 quarter. Vanguard Group Inc. owned 8.88% of Dropbox worth $825,945,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 424 shares in the last quarter. Avion Wealth lifted its stake in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Dropbox during the 4th quarter valued at about $40,000. Allworth Financial LP boosted its holdings in Dropbox by 33.5% during the 4th 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 period. 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 valued at $52,000 after acquiring an additional 482 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised 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.

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 29,917 shares of Dropbox stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $30.07, for a total value of $899,604.19. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $248,578,646.62. This trade represents a 0.36 % 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 90 days. 28.59% of the stock is owned by corporate insiders.

Dropbox Trading Down 1.4 %

Shares of NASDAQ DBX opened at $26.56 on Friday. The stock has a market cap of $8.01 billion, a P/E ratio of 18.84, a PEG ratio of 1.70 and a beta of 0.77. The business’s fifty day simple moving average is $29.03 and its 200-day simple moving average is $28.06. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX) last posted 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). The company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, equities analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.