WealthCollab LLC Has $32,000 Stock Position in Dropbox, Inc. (NASDAQ:DBX)

WealthCollab LLC lessened its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 28.4% during the 4th quarter, HoldingsChannel reports. The fund owned 1,078 shares of the company’s stock after selling 428 shares during the quarter. WealthCollab LLC’s holdings in Dropbox were worth $32,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC lifted its stake in shares of Dropbox by 96.1% in the 4th 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 period. Avion Wealth increased its holdings in Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Dropbox in the fourth quarter valued at about $40,000. Allworth Financial LP boosted 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 buying an additional 365 shares during the last quarter. Finally, Huntington National Bank grew its position in shares of Dropbox by 768.9% during the 4th quarter. Huntington National Bank now owns 1,538 shares of the company’s stock worth $46,000 after buying an additional 1,361 shares during the period. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now 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 through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $32.17, for a total value of $80,425.00. Following the completion of the sale, the chief financial officer now owns 398,764 shares in the company, valued at approximately $12,828,237.88. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,765 shares of company stock valued at $393,695. 28.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Dropbox Trading Up 0.9 %

Shares of Dropbox stock opened at $28.67 on Wednesday. The stock’s fifty day simple moving average is $26.63 and its 200 day simple moving average is $28.38. The company has a market capitalization of $8.65 billion, a PE ratio of 20.33, a PEG ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 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 business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal 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.