CANADA LIFE ASSURANCE Co Sells 45,091 Shares of Dropbox, Inc. (NASDAQ:DBX)

CANADA LIFE ASSURANCE Co reduced its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 12.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 317,108 shares of the company’s stock after selling 45,091 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Dropbox worth $9,525,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DBX. EverSource Wealth Advisors LLC grew its position in shares of 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 during the last quarter. Avion Wealth lifted its holdings in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after buying an additional 984 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox in the fourth quarter valued at about $40,000. Allworth Financial LP grew its stake in shares of Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares in the last quarter. Finally, Huntington National Bank increased its position in Dropbox by 768.9% during the fourth quarter. Huntington National Bank now owns 1,538 shares of the company’s stock worth $46,000 after acquiring an additional 1,361 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were 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 owns 309,550 shares of the company’s stock, valued at $8,141,165. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $26.94, for a total transaction of $67,350.00. Following the sale, the chief financial officer now directly owns 565,068 shares in the company, valued at approximately $15,222,931.92. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,765 shares of company stock worth $393,695 over the last three months. Insiders own 28.59% of the company’s stock.

Dropbox Stock Performance

DBX opened at $26.67 on Tuesday. The firm has a market cap of $8.05 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The business’s fifty day moving average is $27.17 and its 200-day moving average is $28.30. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. On average, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal 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.