US Bancorp DE Purchases 17,800 Shares of Dropbox, Inc. (NASDAQ:DBX)

US Bancorp DE grew its position in shares of Dropbox, Inc. (NASDAQ:DBXFree Report) by 67.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,194 shares of the company’s stock after buying an additional 17,800 shares during the period. US Bancorp DE’s holdings in Dropbox were worth $1,303,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Dropbox during the 4th quarter worth $25,000. Contravisory Investment Management Inc. bought a new position in Dropbox during the 4th quarter worth $26,000. Cary Street Partners Investment Advisory LLC increased its position in shares of 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 worth $32,000 after purchasing an additional 1,167 shares during the period. Principal Securities Inc. bought a new position in shares of Dropbox in the fourth quarter worth $34,000. Finally, Avalon Trust Co bought a new position in shares of Dropbox in the fourth quarter worth $39,000. Institutional investors own 94.84% of the company’s stock.

Insider Activity

In other news, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction dated 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 sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $197,242,650.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew Houston sold 164,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $197,242,650.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Peacock sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $23.02, for a total value of $230,200.00. Following the transaction, the director now owns 23,852 shares of the company’s stock, valued at $549,073.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 284,721 shares of company stock valued at $6,743,515. 26.40% of the stock is currently owned by corporate insiders.

Dropbox Stock Up 0.9 %

NASDAQ:DBX opened at $22.53 on Monday. The stock’s 50-day simple moving average is $23.48 and its 200 day simple moving average is $26.70. The firm has a market capitalization of $7.44 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.56 and a beta of 0.70. Dropbox, Inc. has a twelve month low of $22.04 and a twelve month high of $33.43.

Dropbox (NASDAQ:DBXGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. The firm had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. On average, analysts anticipate that Dropbox, Inc. will post 1.26 EPS for the current fiscal year.

Analyst Ratings Changes

DBX has been the topic of a number of recent analyst reports. JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. The Goldman Sachs Group cut Dropbox from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. cut Dropbox from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $30.00 in a research report on Friday, February 16th. Finally, Citigroup decreased their price target on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.78.

Read Our Latest Analysis on Dropbox

Dropbox Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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