Stratos Wealth Partners LTD. Purchases 5,511 Shares of Dropbox, Inc. (NASDAQ:DBX)

Stratos Wealth Partners LTD. boosted its position in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) by 36.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 20,434 shares of the company’s stock after buying an additional 5,511 shares during the period. Stratos Wealth Partners LTD.’s holdings in Dropbox were worth $423,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ellevest Inc. lifted its holdings in Dropbox by 6,231.6% during the 2nd quarter. Ellevest Inc. now owns 1,203 shares of the company’s stock valued at $25,000 after purchasing an additional 1,184 shares during the last quarter. Covestor Ltd lifted its holdings in Dropbox by 446.6% during the 1st quarter. Covestor Ltd now owns 1,372 shares of the company’s stock valued at $32,000 after purchasing an additional 1,121 shares during the last quarter. Allworth Financial LP lifted its holdings in Dropbox by 184.9% during the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the company’s stock valued at $35,000 after purchasing an additional 1,104 shares during the last quarter. Twin Lakes Capital Management LLC acquired a new stake in Dropbox in the 3rd quarter valued at about $62,000. Finally, CWM LLC raised its stake in shares of Dropbox by 101.2% in the second quarter. CWM LLC now owns 3,236 shares of the company’s stock worth $68,000 after acquiring an additional 1,628 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Bart Volkmer sold 11,000 shares of the stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $20.12, for a total value of $221,320.00. Following the sale, the insider now directly owns 311,855 shares in the company, valued at approximately $6,274,522.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Bart Volkmer sold 11,000 shares of the business’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $20.12, for a total value of $221,320.00. Following the completion of the transaction, the insider now owns 311,855 shares of the company’s stock, valued at approximately $6,274,522.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $22.30, for a total transaction of $66,900.00. Following the completion of the sale, the chief financial officer now owns 470,599 shares of the company’s stock, valued at approximately $10,494,357.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 685,024 shares of company stock worth $14,786,538. Insiders own 25.05% of the company’s stock.

Dropbox Stock Up 0.3 %

NASDAQ:DBX opened at $22.17 on Friday. Dropbox, Inc. has a 12-month low of $19.07 and a 12-month high of $25.81. The stock’s fifty day simple moving average is $22.40 and its 200-day simple moving average is $22.17. The firm has a market capitalization of $8.04 billion, a P/E ratio of 23.84, a P/E/G ratio of 2.81 and a beta of 0.81.

Wall Street Analysts Forecast Growth

DBX has been the topic of several research analyst reports. Credit Suisse Group initiated coverage on shares of Dropbox in a research note on Monday, November 21st. They set an “underperform” rating and a $20.00 price target on the stock. KeyCorp started coverage on Dropbox in a research note on Monday, September 12th. They issued an “overweight” rating and a $30.00 target price for the company. Jefferies Financial Group lowered Dropbox from a “buy” rating to a “hold” rating and cut their price target for the company from $28.00 to $25.00 in a research note on Thursday. Finally, The Goldman Sachs Group decreased their price target on Dropbox from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.43.

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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