abrdn plc Cuts Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

abrdn plc lowered its stake in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,669 shares of the company’s stock after selling 944 shares during the period. abrdn plc’s holdings in Dropbox were worth $341,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC purchased a new position in shares of Dropbox in the 4th quarter valued at $37,000. Spire Wealth Management raised its stake in shares of Dropbox by 112.7% in the 1st quarter. Spire Wealth Management now owns 1,808 shares of the company’s stock valued at $42,000 after acquiring an additional 958 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Dropbox by 194,600.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,947 shares of the company’s stock valued at $48,000 after acquiring an additional 1,946 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Dropbox during the 4th quarter valued at $50,000. Finally, Larson Financial Group LLC acquired a new stake in Dropbox during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 61.40% of the company’s stock.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $19.12, for a total transaction of $47,800.00. Following the completion of the transaction, the chief financial officer now directly owns 534,973 shares of the company’s stock, valued at approximately $10,228,683.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $19.12, for a total transaction of $47,800.00. Following the completion of the transaction, the chief financial officer now directly owns 534,973 shares of the company’s stock, valued at approximately $10,228,683.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen Peacock sold 10,316 shares of Dropbox stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $20.32, for a total transaction of $209,621.12. Following the completion of the transaction, the director now directly owns 16,964 shares of the company’s stock, valued at $344,708.48. The disclosure for this sale can be found here. Insiders sold a total of 96,086 shares of company stock valued at $2,055,883 in the last ninety days. Corporate insiders own 25.05% of the company’s stock.

Dropbox Trading Up 4.0 %

DBX opened at $23.74 on Thursday. The company has a fifty day simple moving average of $21.95 and a 200 day simple moving average of $22.35. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 25.26 and a beta of 0.84. Dropbox, Inc. has a twelve month low of $19.07 and a twelve month high of $33.00.

Dropbox (NASDAQ:DBXGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $562.40 million during the quarter, compared to analyst estimates of $559.09 million. Dropbox had a net margin of 16.66% and a negative return on equity of 146.35%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. On average, analysts forecast that Dropbox, Inc. will post 0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered their price target on shares of Dropbox from $35.00 to $30.00 in a report on Monday, May 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Dropbox presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Dropbox Company Profile

(Get Rating)

Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers the following products: Dropbox Basic, Dropbox Plus, Dropbox Professional, and Dropbox Business. The Dropbox Basic is the simple, powerful home for photos, videos, documents, and other files.

Further Reading

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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