Thrivent Financial for Lutherans Sells 13,397 Shares of Dropbox, Inc. (NASDAQ:DBX)

Thrivent Financial for Lutherans lowered its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 20.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,374 shares of the company’s stock after selling 13,397 shares during the period. Thrivent Financial for Lutherans’ holdings in Dropbox were worth $1,573,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC increased its holdings in Dropbox by 21.2% in the third quarter. Cerity Partners LLC now owns 96,537 shares of the company’s stock valued at $2,455,000 after purchasing an additional 16,917 shares during the period. CreativeOne Wealth LLC acquired a new stake in shares of Dropbox in the third quarter valued at about $232,000. Vinva Investment Management Ltd bought a new position in shares of Dropbox during the third quarter worth about $369,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Dropbox during the third quarter worth about $11,687,000. Finally, Edgestream Partners L.P. lifted its stake in shares of Dropbox by 33.6% in the third quarter. Edgestream Partners L.P. now owns 37,606 shares of the company’s stock worth $956,000 after acquiring an additional 9,466 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Down 1.4 %

DBX stock opened at $26.56 on Monday. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.70 and a beta of 0.77. The company’s fifty day simple moving average is $29.03 and its 200 day simple moving average is $28.09. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the sale, the chief financial officer now directly owns 403,764 shares of the company’s stock, valued at approximately $11,971,602.60. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 500,323 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $245,106,646.90. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 632,004 shares of company stock valued at $18,859,580. 28.59% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Jefferies Financial Group increased their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research 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.