Evolution Wealth Advisors LLC increased its stake in Dropbox Inc (NASDAQ:DBX) by 2,087.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,374 shares of the company’s stock after buying an additional 4,174 shares during the period. Evolution Wealth Advisors LLC’s holdings in Dropbox were worth $95,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new position in Dropbox in the fourth quarter worth $33,000. Pearl River Capital LLC acquired a new position in Dropbox in the fourth quarter worth $35,000. Ellevest Inc. acquired a new position in Dropbox in the first quarter worth $40,000. Advisory Services Network LLC boosted its holdings in Dropbox by 272.7% in the fourth quarter. Advisory Services Network LLC now owns 2,050 shares of the company’s stock worth $42,000 after purchasing an additional 1,500 shares during the period. Finally, Capital Investment Advisory Services LLC acquired a new position in Dropbox in the fourth quarter worth $57,000. Institutional investors and hedge funds own 28.71% of the company’s stock.
Shares of DBX opened at $22.59 on Monday. Dropbox Inc has a 1 year low of $18.50 and a 1 year high of $43.50. The firm has a market cap of $10.60 billion, a PE ratio of -17.24 and a beta of 1.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.16 and a quick ratio of 1.16.
Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.05. Dropbox had a negative net margin of 1.85% and a negative return on equity of 3.50%. The company had revenue of $385.60 million during the quarter, compared to the consensus estimate of $381.58 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, analysts anticipate that Dropbox Inc will post -0.12 earnings per share for the current year.
In other Dropbox news, CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $21.60, for a total value of $296,589.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Bart Volkmer sold 9,968 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $23.99, for a total transaction of $239,132.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,523 shares of company stock valued at $1,916,533. Corporate insiders own 31.20% of the company’s stock.
A number of equities analysts have commented on the stock. Bank of America raised shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Friday, February 22nd. Jefferies Financial Group decreased their price objective on shares of Dropbox to $32.00 in a report on Friday, February 22nd. ValuEngine downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research raised shares of Dropbox from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $31.71.
Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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