First Trust Advisors LP Sells 37,667 Shares of Dropbox, Inc. $DBX

First Trust Advisors LP lessened its stake in Dropbox, Inc. (NASDAQ:DBX) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,786,109 shares of the company’s stock after selling 37,667 shares during the quarter. First Trust Advisors LP’s holdings in Dropbox were worth $40,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. LSV Asset Management lifted its position in shares of Dropbox by 1.1% during the fourth quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock worth $326,251,000 after purchasing an additional 121,999 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Dropbox by 11.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,573,627 shares of the company’s stock valued at $210,547,000 after purchasing an additional 767,119 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Dropbox by 1.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after purchasing an additional 70,867 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Dropbox by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after purchasing an additional 596,440 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Dropbox by 22.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after purchasing an additional 463,258 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Trading Up 4.6%

NASDAQ:DBX opened at $30.54 on Tuesday. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 3.20 and a beta of 0.66. The business’s 50-day moving average price is $27.90 and its two-hundred day moving average price is $26.04.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS. Sell-side analysts predict that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider William T. Yoon sold 7,230 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $27.57, for a total value of $199,331.10. Following the sale, the insider directly owned 366,963 shares in the company, valued at approximately $10,117,169.91. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andrew William Moore sold 8,443 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $232,773.51. Following the completion of the sale, the director owned 4,737 shares in the company, valued at approximately $130,599.09. This trade represents a 64.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,082 shares of company stock worth $3,489,910 over the last ninety days. 35.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Citigroup boosted their target price on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $27.00.

Dropbox Company Profile

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.