Dropbox, Inc. $DBX Holdings Decreased by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 64.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,023 shares of the company’s stock after selling 51,086 shares during the period. Ritholtz Wealth Management’s holdings in Dropbox were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new stake in Dropbox in the 3rd quarter worth approximately $30,000. Kestra Advisory Services LLC acquired a new stake in Dropbox during the fourth quarter valued at $31,000. Larson Financial Group LLC grew its stake in Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after purchasing an additional 791 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in 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 purchasing an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Dropbox in the 4th quarter worth about $38,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 30,332 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $27.50, for a total value of $834,130.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ashraf Alkarmi sold 22,700 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was 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 represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 127,192 shares of company stock worth $3,429,062 in the last quarter. 35.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research 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. William Blair restated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Citigroup lifted their target price 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. Finally, Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $27.00.

Dropbox Stock Performance

Shares of DBX stock opened at $27.47 on Wednesday. The stock’s 50 day simple moving average is $26.37 and its 200 day simple moving average is $25.85. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 3.00 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. During the same quarter last year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts forecast that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Dropbox Profile

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.