Hancock Whitney Corp Has $464,000 Position in Dropbox, Inc. (NASDAQ:DBX)

Hancock Whitney Corp lowered its position in Dropbox, Inc. (NASDAQ:DBX) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,659 shares of the company’s stock after selling 665 shares during the quarter. Hancock Whitney Corp’s holdings in Dropbox were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in shares of Dropbox in the fourth quarter worth approximately $34,000. Sound Income Strategies LLC acquired a new stake in Dropbox during the 1st quarter worth about $28,000. GAMMA Investing LLC lifted its stake in shares of Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after purchasing an additional 907 shares during the period. Fifth Third Bancorp boosted its position in shares of Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Quarry LP acquired a new stake in Dropbox during the fourth quarter worth approximately $64,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 3,177 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.00, for a total value of $79,425.00. Following the completion of the sale, the chief financial officer now owns 481,747 shares in the company, valued at approximately $12,043,675. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $185,173,318.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 3,177 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $79,425.00. Following the sale, the chief financial officer now owns 481,747 shares of the company’s stock, valued at approximately $12,043,675. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,570 shares of company stock worth $2,592,315. 26.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DBX has been the topic of a number of research analyst reports. UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup cut their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.67.

Dropbox Stock Performance

Shares of DBX opened at $24.79 on Tuesday. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The stock has a 50 day moving average price of $23.62 and a two-hundred day moving average price of $23.23. The firm has a market capitalization of $8.19 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.51 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The business had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. During the same period in the prior year, the firm posted $0.28 EPS. Dropbox’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Dropbox, Inc. will post 1.31 earnings per share for the current 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.