Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in Dropbox, Inc. (NASDAQ:DBX) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,272 shares of the company’s stock after buying an additional 538 shares during the period. PNC Financial Services Group Inc.’s holdings in Dropbox were worth $218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DBX. Avion Wealth lifted its stake in Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after buying an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Dropbox in the 4th quarter valued at $40,000. Allworth Financial LP raised its position in Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after purchasing an additional 482 shares during the period. Finally, Vision Financial Markets LLC acquired a new stake in Dropbox during the 4th quarter worth $53,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Trading Up 0.5 %

Shares of DBX stock opened at $26.50 on Monday. The company has a market capitalization of $8.00 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The business’s 50 day moving average is $29.36 and its two-hundred day moving average is $27.97. 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 data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, equities analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the sale, the chief financial officer now directly owns 413,764 shares of the company’s stock, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 634,504 shares of company stock valued at $18,935,530 over the last quarter. Corporate insiders own 28.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Dropbox

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.