Tower Research Capital LLC TRC Has $220,000 Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Tower Research Capital LLC TRC reduced its stake in Dropbox, Inc. (NASDAQ:DBX – Get Rating) by 21.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,639 shares of the company’s stock after selling 2,851 shares during the period. Tower Research Capital LLC TRC’s holdings in Dropbox were worth $220,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baupost Group LLC MA grew its holdings in Dropbox by 30.6% in the 1st quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock valued at $245,777,000 after buying an additional 2,476,021 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Dropbox by 16.7% in the second quarter. Renaissance Technologies LLC now owns 9,580,233 shares of the company’s stock valued at $201,089,000 after acquiring an additional 1,370,500 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Dropbox by 32.4% in the second quarter. Thrivent Financial for Lutherans now owns 4,495,097 shares of the company’s stock valued at $94,352,000 after acquiring an additional 1,101,083 shares in the last quarter. California Public Employees Retirement System increased its position in Dropbox by 82.9% during the third quarter. California Public Employees Retirement System now owns 1,000,298 shares of the company’s stock worth $20,726,000 after acquiring an additional 453,393 shares during the period. Finally, Meritage Portfolio Management acquired a new stake in Dropbox in the 3rd quarter worth about $7,438,000. 61.80% of the stock is owned by institutional investors.

Dropbox Stock Down 0.2 %

Shares of DBX stock opened at $20.63 on Monday. The business has a fifty day simple moving average of $22.59 and a 200 day simple moving average of $22.14. The company has a market cap of $7.38 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.09 and a beta of 0.83. Dropbox, Inc. has a twelve month low of $19.07 and a twelve month high of $24.99.

Dropbox (NASDAQ:DBX – Get Rating) last posted its earnings results on Thursday, February 16th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The company had revenue of $598.80 million during the quarter, compared to the consensus estimate of $593.80 million. Dropbox had a negative return on equity of 65.25% and a net margin of 23.80%. As a group, equities research analysts anticipate that Dropbox, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In other news, insider Bart Volkmer sold 10,264 shares of the company’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $22.79, for a total transaction of $233,916.56. Following the completion of the transaction, the insider now directly owns 275,802 shares in the company, valued at $6,285,527.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Bart Volkmer sold 10,264 shares of Dropbox stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $22.79, for a total transaction of $233,916.56. Following the sale, the insider now directly owns 275,802 shares of the company’s stock, valued at $6,285,527.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Timothy H. Young sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $22.39, for a total value of $335,850.00. Following the completion of the transaction, the president now directly owns 1,476,989 shares of the company’s stock, valued at approximately $33,069,783.71. The disclosure for this sale can be found here. Insiders have sold 396,669 shares of company stock worth $9,020,686 over the last quarter. Corporate insiders own 25.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DBX shares. Citigroup raised their target price on shares of Dropbox from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. KeyCorp dropped their price objective on Dropbox from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Friday, February 17th. Credit Suisse Group reiterated an “underperform” rating and set a $20.00 target price on shares of Dropbox in a research report on Friday, February 17th. The Goldman Sachs Group decreased their price target on Dropbox from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Monday, November 7th. Finally, Royal Bank of Canada upped their price objective on shares of Dropbox from $27.00 to $30.00 in a research report on Friday, February 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox has an average rating of “Hold” and an average target price of $26.43.

Dropbox Profile

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Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers the following products: Dropbox Basic, Dropbox Plus, Dropbox Professional, and Dropbox Business. The Dropbox Basic is the simple, powerful home for photos, videos, documents, and other files.