Seizert Capital Partners LLC Sells 49,469 Shares of Dropbox, Inc. $DBX

Seizert Capital Partners LLC decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,855,584 shares of the company’s stock after selling 49,469 shares during the quarter. Dropbox makes up approximately 2.4% of Seizert Capital Partners LLC’s portfolio, making the stock its 13th largest position. Seizert Capital Partners LLC’s holdings in Dropbox were worth $56,057,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SGL Investment Advisors Inc. increased its stake in Dropbox by 2.4% in the 2nd quarter. SGL Investment Advisors Inc. now owns 16,143 shares of the company’s stock valued at $442,000 after buying an additional 375 shares during the last quarter. Kera Capital Partners Inc. grew its stake in Dropbox by 3.7% in the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock valued at $391,000 after purchasing an additional 460 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Dropbox by 5.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock valued at $246,000 after purchasing an additional 461 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of Dropbox by 4.4% during the 3rd quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after purchasing an additional 480 shares during the period. Finally, CreativeOne Wealth LLC grew its position in Dropbox by 4.2% during the second quarter. CreativeOne Wealth LLC now owns 13,666 shares of the company’s stock valued at $391,000 after buying an additional 552 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DBX shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their target price on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One investment 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. According to data from MarketBeat.com, Dropbox currently has an average rating of “Hold” and a consensus target price of $31.33.

Insider Activity

In other news, CEO Andrew Houston sold 23,818 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $27.51, for a total transaction of $655,233.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $29.64, for a total value of $44,460.00. Following the completion of the sale, the chief financial officer directly owned 439,147 shares in the company, valued at $13,016,317.08. The trade was a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 405,452 shares of company stock valued at $11,672,021. 28.59% of the stock is owned by corporate insiders.

Dropbox Stock Down 0.3%

Shares of DBX stock opened at $26.06 on Tuesday. The firm has a market cap of $6.74 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 2.13 and a beta of 0.62. The business has a 50-day moving average price of $28.50 and a two-hundred day moving average price of $28.70. Dropbox, Inc. has a 12-month low of $24.42 and a 12-month high of $33.33.

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

About Dropbox

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.