Wealth Enhancement Advisory Services LLC Sells 164,749 Shares of Dropbox, Inc. (NASDAQ:DBX)

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 84.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,375 shares of the company’s stock after selling 164,749 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Dropbox were worth $943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth raised its position in shares of Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. True Wealth Design LLC raised its position in shares of Dropbox by 191.0% in the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock worth $31,000 after acquiring an additional 680 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Dropbox in the 4th quarter worth approximately $40,000. Finally, Allworth Financial LP raised its position in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Dropbox stock opened at $29.47 on Tuesday. The company has a market capitalization of $8.30 billion, a P/E ratio of 20.90, a PEG ratio of 1.70 and a beta of 0.66. The stock’s 50 day moving average is $28.21 and its 200 day moving average is $28.87. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 EPS. As a group, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 2,339 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.94, for a total transaction of $67,690.66. Following the sale, the insider now directly owns 378,427 shares in the company, valued at approximately $10,951,677.38. This trade represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William T. Yoon sold 5,449 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $157,694.06. Following the sale, the insider now owns 245,837 shares in the company, valued at approximately $7,114,522.78. This represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,527 shares of company stock worth $926,986 in the last 90 days. Insiders own 29.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on DBX shares. Citigroup increased their target price on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. UBS Group upped their price target on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 9th.

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.