Proficio Capital Partners LLC Invests $511,000 in Dropbox, Inc. (NASDAQ:DBX)

Proficio Capital Partners LLC acquired a new position in Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,003 shares of the company’s stock, valued at approximately $511,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Dropbox during the third quarter valued at $11,687,000. Jacobs Levy Equity Management Inc. lifted its holdings in Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Dropbox by 4.5% during the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares in the last quarter. Algert Global LLC lifted its holdings in Dropbox by 414.9% during the third quarter. Algert Global LLC now owns 365,832 shares of the company’s stock valued at $9,303,000 after purchasing an additional 294,780 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after purchasing an additional 228,685 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Trading Up 3.1 %

NASDAQ:DBX opened at $26.42 on Monday. The company’s 50-day moving average price is $30.15 and its 200-day moving average price is $27.87. The company has a market cap of $7.97 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a twelve month low of $20.68 and a twelve 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 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 business had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. On average, analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised their price target on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 6th.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the sale, the chief financial officer now directly owns 413,764 shares in the company, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 772,003 shares of company stock worth $23,067,375. Insiders own 28.59% of the company’s stock.

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.