Xponance Inc. Sells 888 Shares of Dropbox, Inc. (NASDAQ:DBX)

Xponance Inc. reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 56,094 shares of the company’s stock after selling 888 shares during the period. Xponance Inc.’s holdings in Dropbox were worth $1,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in Dropbox by 65.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock valued at $64,825,000 after acquiring an additional 869,043 shares during the period. Nordea Investment Management AB raised its stake in Dropbox by 5.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,146,895 shares of the company’s stock valued at $59,050,000 after acquiring an additional 113,947 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Dropbox by 5.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock valued at $120,327,000 after acquiring an additional 227,633 shares during the period. Pzena Investment Management LLC bought a new stake in Dropbox in the 3rd quarter valued at about $463,000. Finally, Trexquant Investment LP bought a new stake in Dropbox in the 3rd quarter valued at about $6,898,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Trading Up 0.7 %

Shares of NASDAQ DBX opened at $23.47 on Wednesday. Dropbox, Inc. has a 12 month low of $19.55 and a 12 month high of $33.43. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.59 and a beta of 0.71. The business has a 50-day moving average of $24.17 and a 200-day moving average of $27.38.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share 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 negative return on equity of 120.82% and a net margin of 18.13%. On average, analysts predict that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.11, for a total value of $69,330.00. Following the completion of the sale, the chief financial officer now owns 594,995 shares in the company, valued at approximately $13,750,334.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Dropbox news, insider Bart Volkmer sold 7,039 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $169,076.78. Following the completion of the sale, the insider now owns 233,988 shares in the company, valued at $5,620,391.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.11, for a total value of $69,330.00. Following the completion of the sale, the chief financial officer now owns 594,995 shares of the company’s stock, valued at approximately $13,750,334.45. The disclosure for this sale can be found here. Insiders sold 189,721 shares of company stock worth $4,548,575 in the last quarter. 26.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DBX. JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $30.00 in a report on Friday, February 16th. The Goldman Sachs Group lowered Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the company from $26.00 to $24.00 in a report on Friday, February 16th. Citigroup reduced their target price on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Finally, Bank of America lowered Dropbox from a “buy” rating to an “underperform” rating and reduced their target price for the company from $34.00 to $28.00 in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.78.

Dropbox Profile

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.