Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,925 shares of the company’s stock after selling 1,060 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Dropbox were worth $293,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Dropbox during the 4th quarter worth $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Dropbox in the fourth quarter worth about $26,000. Fifth Third Bancorp boosted its holdings in Dropbox by 424.2% in the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after purchasing an additional 878 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Dropbox by 29,175.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock valued at $32,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Shell Asset Management Co. grew its stake in Dropbox by 51.4% during the 3rd quarter. Shell Asset Management Co. now owns 2,643 shares of the company’s stock valued at $72,000 after purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

DBX opened at $23.32 on Thursday. The stock’s 50 day moving average price is $23.74 and its 200 day moving average price is $27.07. The stock has a market cap of $8.02 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.62 and a beta of 0.70. Dropbox, Inc. has a 12 month low of $21.19 and a 12 month high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The business had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. Equities analysts anticipate that Dropbox, Inc. will post 1.14 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America downgraded shares of Dropbox from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. The Goldman Sachs Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the company from $26.00 to $24.00 in a research note on Friday, February 16th. JMP Securities downgraded Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $33.00 to $30.00 in a report on Friday, February 16th. Finally, KeyCorp increased their target price on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Dropbox currently has a consensus rating of “Hold” and a consensus target price of $29.78.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $24.36, for a total value of $73,080.00. Following the completion of the transaction, the chief financial officer now directly owns 400,720 shares in the company, valued at $9,761,539.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dropbox news, insider Bart Volkmer sold 6,682 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $23.12, for a total value of $154,487.84. Following the completion of the sale, the insider now directly owns 372,332 shares of the company’s stock, valued at approximately $8,608,315.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total transaction of $73,080.00. Following the completion of the transaction, the chief financial officer now directly owns 400,720 shares in the company, valued at approximately $9,761,539.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,721 shares of company stock valued at $6,443,955. Company insiders own 26.40% of the company’s stock.

Dropbox Company 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.