Victory Capital Management Inc. lessened its position in shares of Dropbox Inc (NASDAQ:DBX) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,978,789 shares of the company’s stock after selling 111,520 shares during the period. Victory Capital Management Inc. owned approximately 0.48% of Dropbox worth $43,138,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of DBX. Quantamental Technologies LLC purchased a new stake in shares of Dropbox in the fourth quarter worth about $33,000. Pearl River Capital LLC purchased a new stake in shares of Dropbox in the fourth quarter worth about $35,000. Ellevest Inc. purchased a new stake in shares of Dropbox in the first quarter worth about $40,000. Advisory Services Network LLC boosted its position in shares of Dropbox by 272.7% in the fourth quarter. Advisory Services Network LLC now owns 2,050 shares of the company’s stock worth $42,000 after buying an additional 1,500 shares during the period. Finally, Capital Investment Advisory Services LLC purchased a new stake in shares of Dropbox in the fourth quarter worth about $57,000. 32.48% of the stock is owned by hedge funds and other institutional investors.
In other Dropbox news, insider Yamini Rangan sold 5,633 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $26.00, for a total transaction of $146,458.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Quentin Clark sold 16,666 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $23.51, for a total value of $391,817.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,980 shares of company stock worth $1,778,925. Insiders own 31.20% of the company’s stock.
DBX has been the subject of several analyst reports. ValuEngine downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Bank of America raised Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Friday, February 22nd. Jefferies Financial Group decreased their target price on Dropbox to $32.00 in a research report on Friday, February 22nd. Finally, Zacks Investment Research cut Dropbox from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.71.
Shares of NASDAQ:DBX traded up $0.84 during trading on Thursday, hitting $23.65. The company’s stock had a trading volume of 117,064 shares, compared to its average volume of 3,111,694. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.45 and a current ratio of 1.16. Dropbox Inc has a fifty-two week low of $18.50 and a fifty-two week high of $43.50. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of -18.10 and a beta of 1.43.
Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. Dropbox had a negative return on equity of 3.50% and a negative net margin of 1.85%. The business had revenue of $385.60 million for the quarter, compared to analysts’ expectations of $381.58 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts predict that Dropbox Inc will post -0.16 EPS for the current year.
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Dropbox Company Profile
Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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