SGL Investment Advisors Inc. Purchases New Stake in Dropbox, Inc. (NASDAQ:DBX)

SGL Investment Advisors Inc. purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,067 shares of the company’s stock, valued at approximately $513,000.

Several other institutional investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in Dropbox by 96.1% during 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 stake in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Dropbox during the fourth quarter worth $40,000. Allworth Financial LP boosted its stake in shares of Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares during the period. Finally, Huntington National Bank grew its holdings in Dropbox by 768.9% during the 4th quarter. Huntington National Bank now owns 1,538 shares of the company’s stock valued at $46,000 after purchasing an additional 1,361 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Trading Down 0.5%

DBX stock opened at $29.46 on Friday. The firm has a 50 day simple moving average of $27.36 and a 200-day simple moving average of $28.63. The company has a market capitalization of $8.89 billion, a P/E ratio of 20.89, a PEG ratio of 1.70 and a beta of 0.68. 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 data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 EPS. On average, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Activity at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the transaction, the chief financial officer now directly owns 367,791 shares of the company’s stock, valued at $9,772,206.87. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,265 shares of company stock valued at $303,520 over the last three months. 29.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DBX has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on shares of Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Citigroup boosted their price target on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th.

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.