Advisory Services Network LLC Increases Position in Dropbox, Inc. (NASDAQ:DBX)

Advisory Services Network LLC increased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 24,641 shares of the company’s stock after acquiring an additional 3,762 shares during the quarter. Advisory Services Network LLC’s holdings in Dropbox were worth $740,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Allworth Financial LP boosted its position in shares of Dropbox by 33.5% during the 4th 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 increased its stake in Dropbox by 2.3% in 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 raised its holdings in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares in the last quarter. Aaron Wealth Advisors LLC lifted 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 buying an additional 461 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Dropbox by 35.6% in the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock valued at $54,000 after buying an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total value of $75,925.00. Following the sale, the chief financial officer now owns 401,264 shares in the company, valued at approximately $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,264 shares of company stock valued at $2,895,324. 28.59% of the stock is owned by corporate insiders.

Dropbox Price Performance

DBX stock opened at $26.74 on Tuesday. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The company has a fifty day moving average price of $27.68 and a 200 day moving average price of $28.24.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results 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 negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 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.