Wealth Enhancement Advisory Services LLC Reduces Stake in Dropbox, Inc. (NASDAQ:DBX)

Wealth Enhancement Advisory Services LLC reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 84.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,375 shares of the company’s stock after selling 164,749 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Dropbox were worth $943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in shares of Dropbox by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 126,321 shares of the company’s stock worth $3,794,000 after buying an additional 333 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after buying an additional 365 shares during the last quarter. Heron Bay Capital Management boosted its stake in shares of Dropbox by 2.3% in the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company’s stock worth $504,000 after buying an additional 378 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Dropbox by 5.1% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company’s stock worth $256,000 after buying an additional 407 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Stock Performance

NASDAQ DBX opened at $29.47 on Tuesday. The company has a market capitalization of $8.30 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.70 and a beta of 0.66. The business’s fifty day moving average is $28.21 and its 200 day moving average is $28.87. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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%. Dropbox’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share. On average, sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup lifted their target price on Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. UBS Group lifted their target price on Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 9th.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $29.53, for a total transaction of $73,825.00. Following the sale, the chief financial officer now directly owns 533,594 shares of the company’s stock, valued at $15,757,030.82. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisa M. Campbell sold 5,239 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $151,616.66. Following the sale, the director now directly owns 19,220 shares in the company, valued at approximately $556,226.80. This represents a 21.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,527 shares of company stock worth $926,986. Corporate insiders own 29.95% of the company’s stock.

Dropbox Company 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.