Clarius Group LLC Buys Shares of 6,995 Dropbox, Inc. (NASDAQ:DBX)

Clarius Group LLC bought a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 6,995 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DBX. Contravisory Investment Management Inc. bought a new stake in shares of Dropbox during the 4th quarter valued at $26,000. Fifth Third Bancorp grew its holdings in shares of Dropbox by 424.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after buying an additional 878 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Dropbox by 29,175.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock valued at $32,000 after buying an additional 1,167 shares during the period. Covestor Ltd grew its holdings in shares of Dropbox by 446.6% in the 1st quarter. Covestor Ltd now owns 1,372 shares of the company’s stock valued at $32,000 after buying an additional 1,121 shares during the period. Finally, Clear Street Markets LLC acquired a new position in shares of Dropbox in the 4th quarter valued at $33,000. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

DBX has been the subject of several research analyst reports. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Citigroup reduced their target price on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. KeyCorp upped their target price on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, The Goldman Sachs Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.78.

Dropbox Price Performance

Dropbox stock opened at $22.92 on Tuesday. The firm has a 50-day moving average of $25.33 and a 200-day moving average of $27.55. Dropbox, Inc. has a one year low of $19.55 and a one year high of $33.43. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 2.59 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $635.00 million during the quarter, compared to the consensus estimate of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Insider Activity

In other news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the sale, the chief financial officer now directly owns 434,761 shares of the company’s stock, valued at approximately $14,129,732.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the transaction, the chief financial officer now directly owns 434,761 shares of the company’s stock, valued at approximately $14,129,732.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bart Volkmer sold 7,039 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the completion of the transaction, the insider now directly owns 233,988 shares in the company, valued at $5,620,391.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,039 shares of company stock valued at $4,324,757. 25.78% of the stock is owned by company insiders.

About Dropbox

Dropbox, Inc provides a content collaboration platform worldwide. The company's 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. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.