Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 50.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,653 shares of the company’s stock after selling 14,946 shares during the period. Commonwealth Equity Services LLC’s holdings in Dropbox were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of DBX. Vanguard Group Inc. grew its stake in Dropbox by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after buying an additional 105,250 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Dropbox by 0.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock valued at $113,485,000 after purchasing an additional 32,600 shares during the period. LSV Asset Management grew its position in Dropbox by 3.7% in the 1st quarter. LSV Asset Management now owns 3,427,430 shares of the company’s stock worth $83,287,000 after purchasing an additional 121,700 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Dropbox by 18.7% in the first quarter. Acadian Asset Management LLC now owns 3,279,401 shares of the company’s stock valued at $79,664,000 after purchasing an additional 517,052 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Dropbox by 68.2% during the first quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock valued at $47,397,000 after buying an additional 790,191 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Price Performance

Shares of DBX opened at $24.79 on Tuesday. The company has a 50-day moving average of $23.62 and a two-hundred day moving average of $23.23. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.51 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. Analysts anticipate that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the transaction, the chief financial officer now owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $24.35, for a total transaction of $60,875.00. Following the completion of the sale, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $185,173,318.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,570 shares of company stock valued at $2,592,315. Corporate insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Citigroup lowered their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox currently has an average rating of “Hold” and an average target price of $28.67.

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.