Cetera Investment Advisers Sells 13,350 Shares of Dropbox, Inc. (NASDAQ:DBX)

Cetera Investment Advisers trimmed its stake in Dropbox, Inc. (NASDAQ:DBX) by 43.8% during the 4th quarter, HoldingsChannel reports. The fund owned 17,101 shares of the company’s stock after selling 13,350 shares during the quarter. Cetera Investment Advisers’ holdings in Dropbox were worth $514,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DBX. Nisa Investment Advisors LLC lifted its holdings in shares of Dropbox by 10.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,389 shares of the company’s stock valued at $162,000 after purchasing an additional 490 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Dropbox during the fourth quarter valued at $656,000. Fifth Third Bancorp lifted its holdings in shares of Dropbox by 35.6% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock valued at $54,000 after purchasing an additional 472 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Dropbox by 23.2% during the fourth quarter. Blue Trust Inc. now owns 3,616 shares of the company’s stock valued at $109,000 after purchasing an additional 682 shares in the last quarter. Finally, Strategic Advocates LLC lifted its holdings in shares of Dropbox by 9.7% during the fourth quarter. Strategic Advocates LLC now owns 44,627 shares of the company’s stock valued at $1,341,000 after purchasing an additional 3,957 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group upped their price target on Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 9th. Citigroup upped their price target on Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, May 9th.

Dropbox Stock Performance

Dropbox stock opened at $28.41 on Wednesday. The stock has a market cap of $8.00 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock has a fifty day moving average of $27.81 and a 200 day moving average of $28.75.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. Dropbox’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $29.53, for a total value of $73,825.00. Following the completion of the sale, the chief financial officer now owns 533,594 shares in the company, valued at $15,757,030.82. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,792 shares of company stock worth $754,346 over the last quarter. 29.95% of the stock is currently owned by corporate insiders.

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.