Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) by 15.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,859 shares of the company’s stock after selling 3,865 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Dropbox were worth $453,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DBX. Baupost Group LLC MA lifted its position in Dropbox by 30.6% during the 1st quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock worth $245,777,000 after acquiring an additional 2,476,021 shares during the period. Renaissance Technologies LLC lifted its position in Dropbox by 16.7% during the 2nd quarter. Renaissance Technologies LLC now owns 9,580,233 shares of the company’s stock worth $201,089,000 after acquiring an additional 1,370,500 shares during the period. Thrivent Financial for Lutherans lifted its position in Dropbox by 32.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 4,495,097 shares of the company’s stock worth $94,352,000 after acquiring an additional 1,101,083 shares during the period. Sawgrass Asset Management LLC acquired a new stake in Dropbox during the 1st quarter worth approximately $11,514,000. Finally, Massachusetts Financial Services Co. MA increased its position in Dropbox by 17.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,067,600 shares of the company’s stock worth $43,399,000 after purchasing an additional 307,599 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Insider Activity at Dropbox

In other Dropbox news, President Timothy H. Young sold 15,000 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $21.51, for a total transaction of $322,650.00. Following the completion of the transaction, the president now owns 1,539,623 shares of the company’s stock, valued at $33,117,290.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Dropbox news, CEO Andrew Houston sold 162,500 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $22.26, for a total transaction of $3,617,250.00. Following the completion of the transaction, the chief executive officer now owns 12,500 shares of the company’s stock, valued at $278,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Timothy H. Young sold 15,000 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $21.51, for a total value of $322,650.00. Following the transaction, the president now directly owns 1,539,623 shares of the company’s stock, valued at approximately $33,117,290.73. The disclosure for this sale can be found here. Insiders sold 562,298 shares of company stock valued at $12,560,531 in the last ninety days. Corporate insiders own 25.05% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $22.45 on Wednesday. Dropbox, Inc. has a 1-year low of $19.07 and a 1-year high of $25.81. The company has a market capitalization of $8.14 billion, a P/E ratio of 24.14, a PEG ratio of 3.12 and a beta of 0.81. The business has a 50 day moving average price of $22.43 and a 200 day moving average price of $22.18.

Dropbox (NASDAQ:DBXGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. Dropbox had a negative return on equity of 74.21% and a net margin of 15.25%. The firm had revenue of $591.00 million during the quarter, compared to the consensus estimate of $585.45 million. On average, research analysts expect that Dropbox, Inc. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DBX shares. Credit Suisse Group started coverage on Dropbox in a report on Monday, November 21st. They issued an “underperform” rating and a $20.00 price target for the company. The Goldman Sachs Group reduced their price target on Dropbox from $25.00 to $22.00 and set a “sell” rating for the company in a report on Monday, November 7th. Finally, Jefferies Financial Group cut Dropbox from a “buy” rating to a “hold” rating and reduced their price target for the company from $28.00 to $25.00 in a report on Thursday, January 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.43.

Dropbox Company Profile

(Get Rating)

Dropbox, Inc provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users.

Further Reading

Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.