Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 16.3% in the 4th quarter, Holdings Channel reports. The fund owned 16,050 shares of the company’s stock after selling 3,117 shares during the period. Daiwa Securities Group Inc.’s holdings in Dropbox were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in shares of Dropbox during the 4th quarter valued at approximately $26,000. Fifth Third Bancorp boosted its stake in shares of Dropbox by 424.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after buying an additional 878 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Dropbox by 29,175.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock valued at $32,000 after buying an additional 1,167 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Dropbox during the 3rd quarter valued at approximately $62,000. Finally, Shell Asset Management Co. boosted its stake in shares of Dropbox by 51.4% during the 3rd quarter. Shell Asset Management Co. now owns 2,643 shares of the company’s stock valued at $72,000 after buying an additional 897 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total transaction of $97,500.00. Following the completion of the transaction, the chief financial officer now owns 434,761 shares of the company’s stock, valued at $14,129,732.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total transaction of $97,500.00. Following the sale, the chief financial officer now directly owns 434,761 shares in the company, valued at $14,129,732.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $197,242,650.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,721 shares of company stock valued at $4,548,575. 26.40% of the stock is currently owned by company insiders.

Dropbox Stock Performance

Shares of DBX opened at $24.15 on Friday. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 0.71. The firm has a fifty day moving average of $23.81 and a 200-day moving average of $27.30.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The firm had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. Analysts predict that Dropbox, Inc. will post 1.14 EPS for the current year.

Wall Street Analyst Weigh In

DBX has been the topic of several research analyst reports. JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. KeyCorp lifted their price objective on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Citigroup decreased their price objective on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $30.00 in a report on Friday, February 16th. Finally, Bank of America downgraded shares of Dropbox from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $34.00 to $28.00 in a report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Dropbox presently has an average rating of “Hold” and a consensus price target of $29.78.

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.