American Trust Acquires Shares of 9,610 Dropbox, Inc. (NASDAQ:DBX)

American Trust acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,610 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors have also added to or reduced their stakes in DBX. Walleye Capital LLC acquired a new position in shares of Dropbox during the first quarter worth $218,000. Advisory Services Network LLC acquired a new position in shares of Dropbox during the first quarter worth $244,000. Aurora Investment Counsel acquired a new position in shares of Dropbox during the first quarter worth $1,619,000. Sawtooth Solutions LLC acquired a new position in shares of Dropbox during the first quarter worth $287,000. Finally, Sawgrass Asset Management LLC acquired a new position in shares of Dropbox during the first quarter worth $11,514,000. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dropbox

In other news, President Timothy H. Young sold 15,000 shares of the stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $22.29, for a total transaction of $334,350.00. Following the transaction, the president now owns 1,632,257 shares of the company’s stock, valued at approximately $36,383,008.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $22.60, for a total value of $56,500.00. Following the transaction, the chief financial officer now owns 532,473 shares of the company’s stock, valued at approximately $12,033,889.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Timothy H. Young sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $22.29, for a total transaction of $334,350.00. Following the completion of the transaction, the president now directly owns 1,632,257 shares in the company, valued at approximately $36,383,008.53. The disclosure for this sale can be found here. Insiders have sold 88,270 shares of company stock valued at $2,017,145 in the last 90 days. 25.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on DBX shares. Bank of America initiated coverage on shares of Dropbox in a report on Tuesday, September 6th. They set a “buy” rating and a $34.00 price target for the company. KeyCorp initiated coverage on Dropbox in a report on Monday, September 12th. They issued an “overweight” rating and a $30.00 price objective for the company. Jefferies Financial Group decreased their price objective on Dropbox from $35.00 to $30.00 in a report on Monday, May 23rd. Finally, Citigroup initiated coverage on Dropbox in a report on Thursday, September 1st. They issued a “neutral” rating and a $24.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.83.

Dropbox Trading Down 0.1 %

Shares of DBX opened at $21.68 on Tuesday. The stock has a market capitalization of $8.14 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 2.77 and a beta of 0.84. The firm’s fifty day simple moving average is $22.70 and its two-hundred day simple moving average is $22.14. Dropbox, Inc. has a 12 month low of $19.07 and a 12 month high of $31.55.

Dropbox (NASDAQ:DBXGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The firm had revenue of $572.70 million for the quarter, compared to the consensus estimate of $571.27 million. Dropbox had a net margin of 15.19% and a negative return on equity of 94.26%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $0.24 EPS. As a group, research analysts predict that Dropbox, Inc. will post 0.83 EPS for the current fiscal year.

Dropbox Profile

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Dropbox, Inc provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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