LPL Financial LLC Increases Holdings in Dropbox, Inc. (NASDAQ:DBX)

LPL Financial LLC increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 31.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,506 shares of the company’s stock after acquiring an additional 5,823 shares during the period. LPL Financial LLC’s holdings in Dropbox were worth $736,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Heron Bay Capital Management grew its holdings in Dropbox by 2.3% during the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company’s stock valued at $504,000 after purchasing an additional 378 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Dropbox during the fourth quarter valued at approximately $25,375,000. AXQ Capital LP bought a new position in shares of Dropbox during the fourth quarter valued at approximately $270,000. Hillsdale Investment Management Inc. grew its stake in shares of Dropbox by 4.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 34,200 shares of the company’s stock valued at $1,027,000 after buying an additional 1,400 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Dropbox by 70.7% in the fourth quarter. Teacher Retirement System of Texas now owns 243,626 shares of the company’s stock worth $7,319,000 after buying an additional 100,886 shares during the period. 94.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their price objective on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the sale, the chief financial officer now owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,765 shares of company stock valued at $393,695. Company insiders own 28.59% of the company’s stock.

Dropbox Price Performance

Shares of DBX opened at $27.38 on Wednesday. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.70 and a beta of 0.75. The company has a 50-day moving average of $27.07 and a 200 day moving average of $28.29. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, equities analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

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.