Dropbox, Inc. (NASDAQ:DBX) Stake Lessened by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning cut its stake in Dropbox, Inc. (NASDAQ:DBX) by 34.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,259 shares of the company’s stock after selling 3,249 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Dropbox were worth $152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Stratos Wealth Partners LTD. boosted its holdings in Dropbox by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after buying an additional 415 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in Dropbox by 6.1% during the third quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after buying an additional 417 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Dropbox by 7.4% during the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after buying an additional 459 shares in the last quarter. Cooper Financial Group boosted its holdings in Dropbox by 3.1% during the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock worth $379,000 after buying an additional 462 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Dropbox by 0.7% during the fourth quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock worth $2,103,000 after buying an additional 524 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Timothy Regan sold 13,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.33, for a total transaction of $290,290.00. Following the transaction, the chief financial officer now owns 538,122 shares in the company, valued at approximately $12,016,264.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Timothy Regan sold 13,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.33, for a total value of $290,290.00. Following the transaction, the chief financial officer now directly owns 538,122 shares in the company, valued at approximately $12,016,264.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $193,770,651.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,218 shares of company stock worth $6,661,709. 26.40% of the stock is owned by corporate insiders.

Dropbox Stock Up 0.1 %

DBX stock opened at $22.63 on Thursday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.56 and a beta of 0.65. The company has a 50 day moving average of $22.63 and a two-hundred day moving average of $25.67.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The company had revenue of $631.30 million during the quarter, compared to the consensus estimate of $628.81 million. On average, research analysts anticipate that Dropbox, Inc. will post 1.26 EPS for the current year.

Analysts Set New Price Targets

Separately, Citigroup reduced their price target on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.56.

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.