Federated Hermes Inc. Has $520,000 Stock Holdings in Dropbox, Inc. $DBX

Federated Hermes Inc. reduced its stake in Dropbox, Inc. (NASDAQ:DBX) by 85.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,221 shares of the company’s stock after selling 100,631 shares during the quarter. Federated Hermes Inc.’s holdings in Dropbox were worth $520,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DBX. Y Intercept Hong Kong Ltd bought a new stake in shares of Dropbox during the 2nd quarter worth $1,404,000. Kestra Investment Management LLC purchased a new stake in Dropbox during the second quarter worth about $682,000. CenterBook Partners LP purchased a new stake in Dropbox during the second quarter worth about $2,368,000. Wedge Capital Management L L P NC raised its position in Dropbox by 2.7% in the third quarter. Wedge Capital Management L L P NC now owns 2,287,185 shares of the company’s stock worth $69,096,000 after acquiring an additional 59,625 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Dropbox by 10.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock valued at $190,538,000 after acquiring an additional 605,258 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DBX has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their price target on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Dropbox has an average rating of “Hold” and an average price target of $31.33.

Dropbox Stock Up 2.3%

Dropbox stock opened at $25.00 on Friday. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.04 and a beta of 0.63. The business has a 50-day simple moving average of $27.33 and a 200 day simple moving average of $28.55. Dropbox, Inc. has a 52 week low of $24.41 and a 52 week high of $33.27.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. On average, research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Buying and Selling at Dropbox

In other Dropbox news, CEO Andrew Houston sold 164,502 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $25.66, for a total transaction of $4,221,121.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Sarah Elizabeth Schubach sold 1,168 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $26.84, for a total value of $31,349.12. Following the completion of the transaction, the chief accounting officer owned 92,702 shares of the company’s stock, valued at $2,488,121.68. The trade was a 1.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 568,556 shares of company stock worth $15,851,617 over the last three months. 29.95% of the stock is owned by insiders.

Dropbox Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.