First Horizon Advisors Inc. Has $3.38 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

First Horizon Advisors Inc. trimmed its stake in shares of Dropbox, Inc. (NASDAQ:DBX – Get Rating) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,046 shares of the company’s stock after selling 4,072 shares during the period. First Horizon Advisors Inc.’s holdings in Dropbox were worth $3,380,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Ronald Blue Trust Inc. increased its position in shares of Dropbox by 16.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 3,779 shares of the company’s stock worth $78,000 after acquiring an additional 524 shares in the last quarter. Blair William & Co. IL boosted its holdings in Dropbox by 0.3% during the fourth quarter. Blair William & Co. IL now owns 193,037 shares of the company’s stock worth $4,320,000 after purchasing an additional 531 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Dropbox by 4.9% during the third quarter. Daiwa Securities Group Inc. now owns 15,050 shares of the company’s stock worth $312,000 after purchasing an additional 700 shares during the last quarter. Cooper Financial Group boosted its holdings in Dropbox by 6.0% during the fourth quarter. Cooper Financial Group now owns 12,752 shares of the company’s stock worth $285,000 after purchasing an additional 726 shares during the last quarter. Finally, Boston Partners boosted its holdings in Dropbox by 2.0% during the third quarter. Boston Partners now owns 39,752 shares of the company’s stock worth $824,000 after purchasing an additional 785 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Stock Up 1.1 %

Shares of NASDAQ DBX traded up $0.24 during mid-day trading on Friday, reaching $22.75. 534,268 shares of the company were exchanged, compared to its average volume of 3,211,033. The company’s 50-day simple moving average is $21.31 and its 200-day simple moving average is $21.98. The stock has a market capitalization of $7.95 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.78 and a beta of 0.83. Dropbox, Inc. has a twelve month low of $18.71 and a twelve month high of $24.99.

Dropbox (NASDAQ:DBX – Get Rating) last posted its earnings results on Thursday, May 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. The company had revenue of $611.10 million during the quarter, compared to analysts’ expectations of $601.40 million. Dropbox had a net margin of 22.86% and a negative return on equity of 68.16%. As a group, equities research analysts expect that Dropbox, Inc. will post 1.01 EPS for the current year.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 1,939 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $21.40, for a total transaction of $41,494.60. Following the transaction, the chief financial officer now directly owns 662,898 shares of the company’s stock, valued at $14,186,017.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Timothy Regan sold 1,939 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $21.40, for a total transaction of $41,494.60. Following the transaction, the chief financial officer now directly owns 662,898 shares of the company’s stock, valued at $14,186,017.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 162,500 shares of the firm’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $21.31, for a total transaction of $3,462,875.00. Following the transaction, the chief executive officer now directly owns 8,781,892 shares in the company, valued at $187,142,118.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 368,573 shares of company stock valued at $7,691,060. 25.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of Dropbox from $27.00 to $30.00 in a report on Friday, February 17th. Credit Suisse Group restated an “underperform” rating and set a $20.00 target price on shares of Dropbox in a report on Friday, February 17th. Citigroup increased their price target on shares of Dropbox from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, February 17th. KeyCorp cut their price target on shares of Dropbox from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, February 17th. Finally, The Goldman Sachs Group upgraded shares of Dropbox from a “sell” rating to a “neutral” rating and increased their price target for the company from $22.00 to $25.00 in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.86.

About Dropbox

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Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers the following products: Dropbox Basic, Dropbox Plus, Dropbox Professional, and Dropbox Business. The Dropbox Basic is the simple, powerful home for photos, videos, documents, and other files.