Dropbox, Inc. (NASDAQ:DBX) Shares Sold by IVY Lane Capital Management LLC

IVY Lane Capital Management LLC lowered its position in Dropbox, Inc. (NASDAQ:DBX) by 28.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 90,000 shares of the company’s stock after selling 35,000 shares during the quarter. Dropbox makes up 1.5% of IVY Lane Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. IVY Lane Capital Management LLC’s holdings in Dropbox were worth $2,704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DBX. EverSource Wealth Advisors LLC boosted its holdings in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after buying an additional 424 shares during the period. Avion Wealth lifted its position in Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. bought a new position in Dropbox during the fourth quarter valued at about $40,000. Allworth Financial LP grew its holdings in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares during the period. Finally, V Square Quantitative Management LLC raised its position in Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after acquiring an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

NASDAQ:DBX opened at $26.56 on Friday. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock has a market cap of $8.01 billion, a P/E ratio of 18.84, a PEG ratio of 1.70 and a beta of 0.77. The company has a fifty day moving average price of $29.03 and a 200 day moving average price of $28.03.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The business had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the sale, the chief financial officer now owns 413,764 shares in the company, valued at approximately $12,570,150.32. This represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 634,504 shares of company stock worth $18,935,530. Company insiders own 28.59% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their target price on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th.

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.