Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Cwm LLC

Cwm LLC lessened its stake in Dropbox, Inc. (NASDAQ:DBX – Get Rating) by 21.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,536 shares of the company’s stock after selling 700 shares during the quarter. Cwm LLC’s holdings in Dropbox were worth $53,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Trexquant Investment LP increased its position in shares of Dropbox by 86.4% during the second quarter. Trexquant Investment LP now owns 85,310 shares of the company’s stock worth $1,791,000 after acquiring an additional 39,552 shares during the last quarter. DnB Asset Management AS raised its position in shares of Dropbox by 19.5% in the 2nd quarter. DnB Asset Management AS now owns 95,634 shares of the company’s stock valued at $2,007,000 after purchasing an additional 15,600 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Dropbox by 184.9% during the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the company’s stock valued at $35,000 after buying an additional 1,104 shares during the last quarter. Versor Investments LP grew its position in shares of Dropbox by 15.9% during the third quarter. Versor Investments LP now owns 94,606 shares of the company’s stock worth $1,960,000 after buying an additional 12,953 shares in the last quarter. Finally, Alpha Paradigm Partners LLC bought a new stake in shares of Dropbox in the second quarter worth $87,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

DBX has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded shares of Dropbox from a “buy” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $25.00 in a research note on Thursday, January 5th. Credit Suisse Group initiated coverage on Dropbox in a research note on Monday, November 21st. They issued an “underperform” rating and a $20.00 price target for the company. Finally, The Goldman Sachs Group lowered their price objective on Dropbox from $25.00 to $22.00 and set a “sell” rating for the company in a report on Monday, November 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Dropbox currently has a consensus rating of “Hold” and an average price target of $26.43.

Insiders Place Their Bets

In other news, President Timothy H. Young sold 15,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were 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 in the company, valued at $33,117,290.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dropbox news, CEO Andrew Houston sold 162,500 shares of Dropbox 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 sale, the chief executive officer now owns 12,500 shares of the company’s stock, valued at approximately $278,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Timothy H. Young sold 15,000 shares of the business’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 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 have sold 572,298 shares of company stock valued at $12,788,431 over the last three months. Company insiders own 25.05% of the company’s stock.

Dropbox Stock Down 1.9 %

Shares of NASDAQ:DBX opened at $22.53 on Friday. The company has a market cap of $8.17 billion, a PE ratio of 24.23, a P/E/G ratio of 3.26 and a beta of 0.81. Dropbox, Inc. has a fifty-two week low of $19.07 and a fifty-two week high of $25.81. The firm has a 50-day simple moving average of $22.64 and a 200 day simple moving average of $22.24.

Dropbox (NASDAQ:DBX – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. The company had revenue of $591.00 million during the quarter, compared to analyst estimates of $585.45 million. Dropbox had a negative return on equity of 74.21% and a net margin of 15.25%. As a group, research analysts forecast that Dropbox, Inc. will post 0.87 EPS for the current fiscal year.

Dropbox Company Profile

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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.