Crossmark Global Holdings Inc. Has $5.64 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Crossmark Global Holdings Inc. trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187,602 shares of the company’s stock after selling 9,040 shares during the period. Crossmark Global Holdings Inc. owned about 0.06% of Dropbox worth $5,635,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DBX. Aaron Wealth Advisors LLC raised its position in Dropbox by 4.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock worth $305,000 after acquiring an additional 461 shares in the last quarter. Empirical Asset Management LLC bought a new stake in shares of Dropbox in the 4th quarter valued at about $229,000. Oak Thistle LLC lifted its stake in Dropbox by 70.4% in the 4th quarter. Oak Thistle LLC now owns 32,249 shares of the company’s stock valued at $969,000 after purchasing an additional 13,320 shares during the last quarter. Cooper Financial Group lifted its stake in Dropbox by 39.8% in the 4th quarter. Cooper Financial Group now owns 22,466 shares of the company’s stock valued at $675,000 after purchasing an additional 6,395 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Dropbox during the fourth quarter worth approximately $3,205,000. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 29,917 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $30.07, for a total transaction of $899,604.19. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $248,578,646.62. This represents a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $25.71, for a total transaction of $64,275.00. Following the completion of the transaction, the chief financial officer now directly owns 464,247 shares in the company, valued at $11,935,790.37. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 822,069 shares of company stock worth $24,219,976. Company insiders own 26.40% of the company’s stock.

Dropbox Stock Performance

Shares of Dropbox stock opened at $31.11 on Wednesday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The firm has a 50-day moving average of $29.24 and a 200-day moving average of $26.12. The stock has a market cap of $9.64 billion, a PE ratio of 17.98, a PEG ratio of 1.55 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.16). The company had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same quarter last year, the firm posted $0.35 earnings per share. Equities research analysts predict that Dropbox, Inc. will post 1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised their price objective on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Dropbox has an average rating of “Hold” and a consensus price target of $27.50.

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.