Vontobel Holding Ltd. Lowers Position in Dropbox, Inc. (NASDAQ:DBX)

Vontobel Holding Ltd. decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,206 shares of the company’s stock after selling 457 shares during the quarter. Vontobel Holding Ltd.’s holdings in Dropbox were worth $1,922,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. grew its stake in Dropbox by 10,822.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 78,207 shares of the company’s stock worth $2,324,000 after buying an additional 77,491 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Dropbox during the 4th quarter worth $2,123,000. AlphaQ Advisors LLC purchased a new position in Dropbox in the fourth quarter worth $265,000. Clarius Group LLC bought a new position in Dropbox in the fourth quarter valued at $206,000. Finally, Cerity Partners LLC raised its position in Dropbox by 0.7% during the fourth quarter. Cerity Partners LLC now owns 79,052 shares of the company’s stock valued at $2,330,000 after purchasing an additional 565 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox Trading Up 1.0 %

Shares of NASDAQ:DBX opened at $22.98 on Friday. The company has a 50-day moving average price of $24.73 and a 200-day moving average price of $27.45. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.71. Dropbox, Inc. has a 12 month low of $19.55 and a 12 month high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly 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 business had revenue of $635.00 million for the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. As a group, research analysts forecast that Dropbox, Inc. will post 1.14 EPS for the current fiscal year.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $23.11, for a total transaction of $69,330.00. Following the sale, the chief financial officer now owns 594,995 shares in the company, valued at approximately $13,750,334.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction on Monday, April 15th. The stock was sold at an average price of $23.11, for a total transaction of $69,330.00. Following the completion of the transaction, the chief financial officer now owns 594,995 shares in the company, valued at $13,750,334.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $197,242,650.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,721 shares of company stock valued at $4,548,575. Corporate insiders own 26.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DBX shares. The Goldman Sachs Group cut Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $26.00 to $24.00 in a report on Friday, February 16th. JPMorgan Chase & Co. cut shares of Dropbox from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $30.00 in a research report on Friday, February 16th. KeyCorp boosted their price objective on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Finally, Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox presently has an average rating of “Hold” and an average price target of $29.78.

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.