SGL Investment Advisors Inc. Buys Shares of 16,067 Dropbox, Inc. (NASDAQ:DBX)

SGL Investment Advisors Inc. purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 16,067 shares of the company’s stock, valued at approximately $513,000.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC increased its stake in shares of Dropbox by 68.0% in the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock valued at $1,086,000 after purchasing an additional 14,629 shares during the period. Exchange Traded Concepts LLC grew its holdings in Dropbox by 291.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company’s stock worth $3,755,000 after buying an additional 93,058 shares in the last quarter. Blue Trust Inc. increased its position in Dropbox by 23.2% in the 4th quarter. Blue Trust Inc. now owns 3,616 shares of the company’s stock valued at $109,000 after acquiring an additional 682 shares during the period. Janney Montgomery Scott LLC bought a new stake in Dropbox during the 4th quarter valued at $656,000. Finally, Intech Investment Management LLC raised its stake in Dropbox by 185.2% during the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company’s stock valued at $4,521,000 after acquiring an additional 97,725 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group increased their price target on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Citigroup upped their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 9th.

Dropbox Price Performance

NASDAQ DBX opened at $29.46 on Friday. The company’s 50 day simple moving average is $27.36 and its 200 day simple moving average is $28.63. The firm has a market capitalization of $8.89 billion, a PE ratio of 20.89, a P/E/G ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. Sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Cox sold 3,765 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $28.29, for a total value of $70,725.00. Following the sale, the chief financial officer now directly owns 562,568 shares of the company’s stock, valued at approximately $15,915,048.72. This represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,265 shares of company stock valued at $303,520 over the last three months. Company insiders own 29.95% of the company’s stock.

About Dropbox

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.