Abacus FCF Advisors LLC Has $1.78 Million Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Abacus FCF Advisors LLC decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 16.5% in the 1st quarter, HoldingsChannel reports. The firm owned 66,521 shares of the company’s stock after selling 13,125 shares during the period. Abacus FCF Advisors LLC’s holdings in Dropbox were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC lifted its holdings in Dropbox by 96.1% during 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 last quarter. Avion Wealth lifted its holdings in Dropbox by 4,472.7% during the 4th 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. True Wealth Design LLC lifted its holdings in Dropbox by 191.0% during the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock valued at $31,000 after purchasing an additional 680 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Dropbox during the 4th quarter valued at $40,000. Finally, Allworth Financial LP lifted its holdings in Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

DBX opened at $29.47 on Tuesday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The company has a market capitalization of $8.30 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.70 and a beta of 0.66. The stock has a fifty day moving average of $28.21 and a 200-day moving average of $28.87.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. During the same quarter last year, the firm earned $0.58 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at Dropbox

In related news, Director Karen Peacock sold 7,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the transaction, the director now owns 25,295 shares in the company, valued at approximately $721,666.35. This trade represents a 21.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $28.78, for a total value of $71,950.00. Following the completion of the transaction, the chief financial officer now owns 531,094 shares in the company, valued at $15,284,885.32. The trade was a 0.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,527 shares of company stock valued at $926,986. 29.95% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DBX has been the subject of a number of research reports. Citigroup lifted their target price on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. UBS Group lifted their target price on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

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.