Raymond James & Associates Purchases 4,162 Shares of Dropbox, Inc. (NASDAQ:DBX)

Raymond James & Associates raised its position in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,323 shares of the company’s stock after purchasing an additional 4,162 shares during the period. Raymond James & Associates’ holdings in Dropbox were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Clarius Group LLC grew its holdings in Dropbox by 3.5% during the third quarter. Clarius Group LLC now owns 35,576 shares of the company’s stock valued at $737,000 after purchasing an additional 1,192 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Dropbox by 36.9% in the third quarter. Stratos Wealth Partners LTD. now owns 20,434 shares of the company’s stock worth $423,000 after acquiring an additional 5,511 shares during the period. Twin Lakes Capital Management LLC bought a new position in shares of Dropbox in the third quarter worth $62,000. Outfitter Financial LLC boosted its holdings in shares of Dropbox by 5.3% in the third quarter. Outfitter Financial LLC now owns 67,490 shares of the company’s stock worth $1,398,000 after acquiring an additional 3,410 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Dropbox by 3.9% in the third quarter. Nordea Investment Management AB now owns 2,047,315 shares of the company’s stock worth $42,625,000 after acquiring an additional 76,658 shares during the period. 61.80% of the stock is owned by institutional investors.

Dropbox Stock Down 2.0 %

NASDAQ DBX opened at $22.93 on Wednesday. The stock’s 50-day simple moving average is $22.65 and its two-hundred day simple moving average is $22.25. Dropbox, Inc. has a twelve month low of $19.07 and a twelve month high of $25.81. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.22 and a beta of 0.81.

Dropbox (NASDAQ:DBXGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Dropbox had a negative return on equity of 74.21% and a net margin of 15.25%. The business had revenue of $591.00 million for the quarter, compared to the consensus estimate of $585.45 million. On average, equities analysts expect that Dropbox, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $22.32, for a total value of $66,960.00. Following the transaction, the chief financial officer now owns 473,599 shares in the company, valued at $10,570,729.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $22.32, for a total value of $66,960.00. Following the transaction, the chief financial officer now owns 473,599 shares in the company, valued at $10,570,729.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Timothy H. Young sold 15,000 shares of Dropbox stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $22.33, for a total value of $334,950.00. Following the completion of the transaction, the president now owns 1,491,989 shares in the company, valued at approximately $33,316,114.37. The disclosure for this sale can be found here. Insiders have sold 554,298 shares of company stock worth $12,400,531 over the last 90 days. Corporate insiders own 25.05% of the company’s stock.

Wall Street Analyst Weigh In

DBX has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on Dropbox from $25.00 to $22.00 and set a “sell” rating for the company in a report on Monday, November 7th. Jefferies Financial Group lowered Dropbox from a “buy” rating to a “hold” rating and cut their price target for the stock from $28.00 to $25.00 in a report on Thursday, January 5th. Finally, Credit Suisse Group assumed coverage on Dropbox in a report on Monday, November 21st. They issued an “underperform” rating and a $20.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.43.

Dropbox Company 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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