Dropbox, Inc. $DBX Shares Sold by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 64.0% during the first quarter, HoldingsChannel reports. The fund owned 12,985 shares of the company’s stock after selling 23,038 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Dropbox were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Palisade Asset Management LLC purchased a new stake in Dropbox in the 3rd quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new position in shares of Dropbox during the 4th quarter worth approximately $31,000. Larson Financial Group LLC lifted its holdings in shares of Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after buying an additional 791 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after buying an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Dropbox in the fourth quarter valued at approximately $38,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Dropbox news, Director Andrew William Moore sold 8,443 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.57, for a total value of $232,773.51. Following the sale, the director directly owned 4,737 shares of the company’s stock, valued at approximately $130,599.09. This trade represents a 64.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Houston sold 111,166 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $22.89, for a total value of $2,544,589.74. Following the completion of the sale, the chief executive officer directly owned 8,266,666 shares in the company, valued at approximately $189,223,984.74. The trade was a 1.33% decrease in their ownership of the stock. 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 a total of 238,358 shares of company stock valued at $5,973,652 in the last three months. Company insiders own 35.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DBX shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Citigroup raised their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday. William Blair restated an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $27.00.

Dropbox Price Performance

Shares of Dropbox stock opened at $27.40 on Tuesday. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40. The business has a 50 day moving average price of $26.30 and a 200 day moving average price of $25.85. The company has a market capitalization of $6.39 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.92 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm had revenue of $629.50 million for the quarter, compared to analysts’ expectations of $620.56 million. During the same quarter in the prior year, the firm earned $0.70 EPS. Dropbox’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts expect 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.