Distillate Capital Partners LLC Sells 144,563 Shares of Dropbox, Inc. (NASDAQ:DBX)

Distillate Capital Partners LLC lessened its position in Dropbox, Inc. (NASDAQ:DBX) by 22.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 507,452 shares of the company’s stock after selling 144,563 shares during the quarter. Distillate Capital Partners LLC’s holdings in Dropbox were worth $15,244,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of DBX. Bessemer Group Inc. boosted its stake in shares of Dropbox by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 126,321 shares of the company’s stock worth $3,794,000 after buying an additional 333 shares during the last quarter. Allworth Financial LP raised its holdings in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares in the last quarter. Heron Bay Capital Management boosted its position in Dropbox by 2.3% during the fourth quarter. Heron Bay Capital Management now owns 16,769 shares of the company’s stock valued at $504,000 after purchasing an additional 378 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after purchasing an additional 424 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in shares of Dropbox by 4.8% during the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock worth $305,000 after purchasing an additional 461 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity at Dropbox

In related news, CEO Andrew Houston sold 80,499 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $256,018,646.02. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total transaction of $75,925.00. Following the completion of the sale, the chief financial officer now owns 401,264 shares of the company’s stock, valued at $12,186,387.68. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,264 shares of company stock worth $2,895,324. Insiders own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Dropbox Price Performance

Dropbox stock opened at $27.08 on Friday. The company’s 50-day moving average is $27.80 and its 200-day moving average is $28.21. The firm has a market capitalization of $8.17 billion, a PE ratio of 19.21, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results 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 business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

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.