Atria Wealth Solutions Inc. Sells 1,060 Shares of Dropbox, Inc. (NASDAQ:DBX)

Atria Wealth Solutions Inc. lessened its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 9.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,925 shares of the company’s stock after selling 1,060 shares during the period. Atria Wealth Solutions Inc.’s holdings in Dropbox were worth $293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DBX. GAMMA Investing LLC acquired a new position in Dropbox during the 4th quarter worth $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Dropbox during the fourth quarter worth $26,000. Fifth Third Bancorp lifted its stake in shares of Dropbox by 424.2% during the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after acquiring an additional 878 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in Dropbox by 29,175.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock valued at $32,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Shell Asset Management Co. increased its position in Dropbox by 51.4% in the third quarter. Shell Asset Management Co. now owns 2,643 shares of the company’s stock worth $72,000 after purchasing an additional 897 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DBX shares. KeyCorp raised their target price on shares of Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. JPMorgan Chase & Co. downgraded Dropbox from an “overweight” rating to a “neutral” rating and cut their price target for the company from $33.00 to $30.00 in a research note on Friday, February 16th. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. Finally, The Goldman Sachs Group lowered Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the company from $26.00 to $24.00 in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.78.

Dropbox Price Performance

NASDAQ DBX opened at $23.32 on Thursday. The stock’s 50-day moving average is $23.74 and its 200-day moving average is $27.07. Dropbox, Inc. has a one year low of $21.19 and a one year high of $33.43. The firm has a market cap of $8.02 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.62 and a beta of 0.70.

Dropbox (NASDAQ:DBX) last announced its earnings results 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 for the quarter, compared to analyst estimates of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. Equities analysts anticipate that Dropbox, Inc. will post 1.14 EPS for the current year.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $23.11, for a total value of $69,330.00. Following the sale, the chief financial officer now owns 594,995 shares of the company’s stock, valued at approximately $13,750,334.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.11, for a total transaction of $69,330.00. Following the completion of the transaction, the chief financial officer now directly owns 594,995 shares of the company’s stock, valued at approximately $13,750,334.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bart Volkmer sold 7,039 shares of Dropbox stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the completion of the sale, the insider now owns 233,988 shares in the company, valued at $5,620,391.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,721 shares of company stock valued at $6,443,955. Company insiders own 26.40% of the company’s stock.

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.