Outfitter Financial LLC Sells 5,525 Shares of Dropbox, Inc. (NASDAQ:DBX)

Outfitter Financial LLC decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,755 shares of the company’s stock after selling 5,525 shares during the period. Outfitter Financial LLC’s holdings in Dropbox were worth $1,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DBX. Pacer Advisors Inc. boosted its stake in Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after acquiring an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after acquiring an additional 365,893 shares during the last quarter. Geode Capital Management LLC increased its stake in Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after purchasing an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after purchasing an additional 228,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after buying an additional 134,503 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Dropbox Stock Down 2.4 %

NASDAQ:DBX opened at $31.88 on Friday. The company has a market cap of $9.87 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The business has a 50 day moving average price of $31.06 and a two-hundred day moving average price of $27.51.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. As a group, analysts anticipate that Dropbox, Inc. will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $232,458,647.92. This represents a 1.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the sale, the chief financial officer now owns 413,764 shares of the company’s stock, valued at approximately $12,570,150.32. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is currently owned by corporate insiders.

About Dropbox

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.