Dropbox, Inc. (NASDAQ:DBX) Shares Bought by IFP Advisors Inc

IFP Advisors Inc raised its stake in Dropbox, Inc. (NASDAQ:DBX) by 30.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,328 shares of the company’s stock after acquiring an additional 1,006 shares during the quarter. IFP Advisors Inc’s holdings in Dropbox were worth $116,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Impact Partnership Wealth LLC acquired a new position in shares of Dropbox during the 1st quarter worth approximately $245,000. Burns Matteson Capital Management LLC raised its stake in shares of Dropbox by 3.6% during the 1st quarter. Burns Matteson Capital Management LLC now owns 16,158 shares of the company’s stock worth $432,000 after buying an additional 568 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Dropbox by 10.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 820,056 shares of the company’s stock worth $21,904,000 after buying an additional 76,111 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Dropbox by 33.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock worth $48,000 after buying an additional 449 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Dropbox by 3,492.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 193,611 shares of the company’s stock worth $5,171,000 after buying an additional 188,222 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Stock Performance

NASDAQ DBX opened at $27.94 on Wednesday. The business has a fifty day moving average price of $28.19 and a 200 day moving average price of $28.46. Dropbox, Inc. has a one year low of $21.32 and a one year high of $33.33. The company has a market cap of $7.86 billion, a P/E ratio of 18.26, a P/E/G ratio of 11.05 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The firm had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on DBX. Citigroup upped their target price on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. UBS Group upped their target price on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 9th.

Insider Buying and Selling

In other Dropbox news, Director Lisa M. Campbell sold 5,239 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $151,616.66. Following the completion of the sale, the director directly owned 19,220 shares in the company, valued at $556,226.80. This represents a 21.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 92,000 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $27.96, for a total value of $2,572,320.00. Following the completion of the sale, the chief executive officer owned 8,266,666 shares of the company’s stock, valued at approximately $231,135,981.36. The trade was a 1.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 463,625 shares of company stock worth $13,151,405 over the last quarter. Corporate insiders own 28.59% of the company’s stock.

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.