WealthCollab LLC Has $32,000 Stake in Dropbox, Inc. (NASDAQ:DBX)

WealthCollab LLC lowered its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 28.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,078 shares of the company’s stock after selling 428 shares during the period. WealthCollab LLC’s holdings in Dropbox were worth $32,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in Dropbox by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after acquiring an additional 1,440,887 shares in the last quarter. LSV Asset Management increased its position in shares of Dropbox by 24.0% during the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock valued at $193,641,000 after purchasing an additional 1,245,563 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Dropbox in the fourth quarter valued at $25,375,000. Norges Bank acquired a new position in shares of Dropbox in the fourth quarter valued at $20,482,000. Finally, Northern Trust Corp lifted its position in Dropbox by 20.9% in the fourth quarter. Northern Trust Corp now owns 2,153,303 shares of the company’s stock worth $64,685,000 after purchasing an additional 372,701 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Buying and Selling

In other news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $32.17, for a total transaction of $80,425.00. Following the sale, the chief financial officer now directly owns 398,764 shares in the company, valued at approximately $12,828,237.88. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,765 shares of company stock worth $393,695 in the last quarter. 28.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Dropbox Trading Up 0.9 %

DBX stock opened at $28.67 on Wednesday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The business’s 50 day moving average is $26.63 and its 200-day moving average is $28.38. The firm has a market cap of $8.65 billion, a P/E ratio of 20.33, a P/E/G ratio of 1.70 and a beta of 0.75.

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

Dropbox Profile

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.