Vanguard Group Inc. Trims Stake in Dropbox, Inc. (NASDAQ:DBX)

Vanguard Group Inc. reduced its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,719,595 shares of the company’s stock after selling 1,775,229 shares during the quarter. Vanguard Group Inc. owned about 8.52% of Dropbox worth $686,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of DBX. True Wealth Design LLC increased its holdings 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 valued at $31,000 after acquiring an additional 680 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Dropbox by 33.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock valued at $48,000 after acquiring an additional 449 shares during the period. Fifth Third Bancorp increased its holdings in shares of Dropbox by 27.3% in the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company’s stock valued at $61,000 after acquiring an additional 490 shares during the period. UMB Bank n.a. increased its holdings in shares of Dropbox by 115.0% in the 1st quarter. UMB Bank n.a. now owns 2,501 shares of the company’s stock valued at $67,000 after acquiring an additional 1,338 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Dropbox in the 4th quarter valued at $109,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dropbox

In other Dropbox news, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.10, for a total transaction of $283,753.80. Following the completion of the sale, the insider owned 492,856 shares of the company’s stock, valued at approximately $13,849,253.60. The trade was a 2.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karen Peacock sold 7,000 shares of Dropbox stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the sale, the director directly owned 25,295 shares of the company’s stock, valued at approximately $721,666.35. This represents a 21.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 463,625 shares of company stock worth $13,147,530. 29.95% of the stock is owned by insiders.

Dropbox Price Performance

Shares of DBX stock opened at $28.13 on Thursday. Dropbox, Inc. has a 1-year low of $22.32 and a 1-year high of $33.33. The stock’s fifty day moving average price is $27.77 and its 200 day moving average price is $28.19. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 3.68 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%. The firm had revenue of $625.70 million for the quarter, compared to the consensus estimate of $618.60 million. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on DBX shares. Citigroup boosted their target price on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. UBS Group dropped their target price on Dropbox from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th.

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.