Corient Private Wealth LLC Boosts Stock Position in Dropbox, Inc. $DBX

Corient Private Wealth LLC increased its holdings in Dropbox, Inc. (NASDAQ:DBX) by 166.6% during the 4th quarter, HoldingsChannel reports. The firm owned 61,456 shares of the company’s stock after buying an additional 38,402 shares during the period. Corient Private Wealth LLC’s holdings in Dropbox were worth $1,708,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DBX. WealthCollab LLC grew its stake in shares of Dropbox by 20.6% in the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after buying an additional 403 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Dropbox by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after buying an additional 440 shares in the last quarter. Lakewood Asset Management LLC lifted its holdings in shares of Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after acquiring an additional 458 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Dropbox by 1.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock valued at $730,000 after acquiring an additional 466 shares during the last quarter. Finally, Merit Financial Group LLC grew its position in Dropbox by 4.4% in the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after acquiring an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

DBX has been the topic of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Citigroup boosted their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, William Blair restated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $27.00.

Insider Buying and Selling

In other news, CEO Ashraf Alkarmi sold 22,700 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $27.86, for a total transaction of $632,422.00. Following the transaction, the chief executive officer directly owned 1,080,746 shares of the company’s stock, valued at approximately $30,109,583.56. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Houston sold 30,332 shares of Dropbox stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.50, for a total transaction of $834,130.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 127,192 shares of company stock worth $3,429,062 over the last 90 days. Corporate insiders own 35.48% of the company’s stock.

Dropbox Trading Up 0.3%

NASDAQ:DBX opened at $27.47 on Wednesday. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40. The stock has a fifty day simple moving average of $26.37 and a 200-day simple moving average of $25.85.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $629.50 million for the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. As a group, equities research analysts predict that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.