Vontobel Holding Ltd. Lowers Holdings in Dropbox, Inc. (NASDAQ:DBX)

Vontobel Holding Ltd. lowered its position in Dropbox, Inc. (NASDAQ:DBX) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,206 shares of the company’s stock after selling 457 shares during the quarter. Vontobel Holding Ltd.’s holdings in Dropbox were worth $1,922,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DBX. PNC Financial Services Group Inc. boosted its stake in Dropbox by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,730 shares of the company’s stock valued at $133,000 after acquiring an additional 918 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Dropbox during the 1st quarter valued at $217,000. MetLife Investment Management LLC acquired a new stake in shares of Dropbox in the 1st quarter worth $447,000. Blair William & Co. IL grew its stake in Dropbox by 233.0% during the 1st quarter. Blair William & Co. IL now owns 102,489 shares of the company’s stock worth $2,383,000 after buying an additional 71,708 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Dropbox by 47.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 21,710 shares of the company’s stock valued at $505,000 after buying an additional 7,000 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Stock Up 1.0 %

Shares of DBX stock opened at $22.98 on Friday. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The stock has a market cap of $7.90 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.71. The business has a 50-day simple moving average of $24.73 and a 200-day simple moving average of $27.45.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. Sell-side analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on DBX shares. JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $33.00 to $30.00 in a research report on Friday, February 16th. JMP Securities cut shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Friday, February 16th. KeyCorp raised their target price on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, Citigroup dropped their price target on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.78.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction on Tuesday, March 5th. The shares were 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 of the company’s stock, valued at $197,242,650.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Dropbox news, CEO Andrew Houston sold 164,000 shares of the 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 transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $197,242,650.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bart Volkmer sold 6,682 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.12, for a total value of $154,487.84. Following the completion of the sale, the insider now directly owns 372,332 shares in the company, valued at $8,608,315.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,721 shares of company stock valued at $4,548,575. Corporate insiders own 26.40% of the company’s stock.

About Dropbox

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.