Commerce Bank Sells 3,455 Shares of Dropbox, Inc. (NASDAQ:DBX)

Commerce Bank trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 3.0% during the 4th quarter, HoldingsChannel reports. The fund owned 110,382 shares of the company’s stock after selling 3,455 shares during the quarter. Commerce Bank’s holdings in Dropbox were worth $3,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in shares of Dropbox by 67.4% in the 4th quarter. US Bancorp DE now owns 44,194 shares of the company’s stock worth $1,303,000 after acquiring an additional 17,800 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Dropbox by 16.4% in the 4th quarter. Franklin Resources Inc. now owns 458,789 shares of the company’s stock worth $13,525,000 after acquiring an additional 64,492 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Dropbox in the 4th quarter worth approximately $198,000. UBS Group AG boosted its holdings in shares of Dropbox by 19.3% in the 4th quarter. UBS Group AG now owns 1,489,863 shares of the company’s stock worth $43,921,000 after acquiring an additional 241,322 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Dropbox in the 4th quarter worth approximately $19,361,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Trading Down 1.2 %

DBX stock opened at $22.89 on Monday. The stock has a market cap of $7.56 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The stock has a 50-day moving average price of $23.63 and a two-hundred day moving average price of $26.84. Dropbox, Inc. has a 1 year low of $22.06 and a 1 year high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.13. The company had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. On average, analysts forecast that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CEO Andrew Houston sold 164,000 shares of the firm’s 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 owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $24.02, for a total value of $72,060.00. Following the completion of the sale, the chief financial officer now directly owns 403,720 shares in the company, valued at approximately $9,697,354.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 164,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $197,242,650.76. The disclosure for this sale can be found here. Insiders sold 271,721 shares of company stock worth $6,443,955 in the last quarter. Corporate insiders own 26.40% of the company’s stock.

Dropbox Company 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.