Federated Hermes Inc. Cuts Holdings in Dropbox, Inc. (NASDAQ:DBX)

Federated Hermes Inc. decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 15.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,643 shares of the company’s stock after selling 3,873 shares during the period. Federated Hermes Inc.’s holdings in Dropbox were worth $650,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Retirement Systems of Alabama increased its position in shares of Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Dropbox in the 4th quarter valued at $3,205,000. Sanctuary Advisors LLC purchased a new stake in shares of Dropbox during the 3rd quarter valued at $268,000. Empowered Funds LLC raised its stake in shares of Dropbox by 68.0% during the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock worth $1,086,000 after purchasing an additional 14,629 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Dropbox by 291.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company’s stock worth $3,755,000 after purchasing an additional 93,058 shares during the period. Institutional investors own 94.84% of the company’s stock.

Dropbox Trading Down 0.4 %

Shares of NASDAQ DBX opened at $26.83 on Thursday. The stock has a fifty day simple moving average of $27.47 and a two-hundred day simple moving average of $28.22. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

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). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. Analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,764 shares of company stock worth $2,819,399 over the last quarter. Corporate insiders own 28.59% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report 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.