Advisors Asset Management Inc. Has $39,000 Stake in Dropbox, Inc. (NASDAQ:DBX)

Advisors Asset Management Inc. reduced its holdings in Dropbox, Inc. (NASDAQ:DBX) by 58.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,469 shares of the company’s stock after selling 2,086 shares during the quarter. Advisors Asset Management Inc.’s holdings in Dropbox were worth $39,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DBX. Wealthcare Advisory Partners LLC bought a new position in shares of Dropbox in the 1st quarter valued at about $25,000. Westside Investment Management Inc. boosted its position in Dropbox by 1,100.0% during the first quarter. Westside Investment Management Inc. now owns 1,200 shares of the company’s stock valued at $31,000 after purchasing an additional 1,100 shares during the last quarter. Ironwood Wealth Management LLC. bought a new position in Dropbox in the fourth quarter valued at approximately $28,000. Cullen Frost Bankers Inc. bought a new position in Dropbox in the first quarter valued at approximately $61,000. Finally, Oder Investment Management LLC bought a new stake in shares of Dropbox during the 4th quarter worth approximately $63,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Bart Volkmer sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 13th. The shares were sold at an average price of $24.49, for a total value of $244,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Timothy H. Young sold 11,250 shares of the company’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $27.13, for a total transaction of $305,212.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,825 shares of company stock worth $1,669,749. 23.75% of the stock is owned by corporate insiders.

Several research firms have issued reports on DBX. TheStreet lowered shares of Dropbox from a “c-” rating to a “d+” rating in a research report on Thursday, May 13th. The Goldman Sachs Group started coverage on shares of Dropbox in a report on Friday, May 14th. They issued a “sell” rating and a $26.00 target price on the stock. Zacks Investment Research cut Dropbox from a “buy” rating to a “hold” rating in a report on Tuesday, May 18th. Finally, DA Davidson restated a “buy” rating on shares of Dropbox in a research note on Wednesday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $26.75.

NASDAQ DBX opened at $29.75 on Friday. The firm has a market cap of $11.94 billion, a PE ratio of -49.58, a PEG ratio of 1.10 and a beta of 0.89. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average is $26.66. Dropbox, Inc. has a 52-week low of $17.66 and a 52-week high of $29.86.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 6th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.20. Dropbox had a negative net margin of 12.59% and a positive return on equity of 43.70%. The firm had revenue of $511.60 million for the quarter, compared to analysts’ expectations of $505.17 million. During the same period in the prior year, the firm earned $0.17 EPS. The business’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts anticipate that Dropbox, Inc. will post 0.65 EPS for the current fiscal year.

Dropbox Profile

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. As of December 31, 2020, the company had approximately 700 million registered users across 180 countries.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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