Raymond James Financial Services Advisors Inc. Has $254,000 Stake in Dropbox, Inc. (NASDAQ:DBX)

Raymond James Financial Services Advisors Inc. reduced its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,622 shares of the company’s stock after selling 1,073 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Dropbox were worth $254,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in shares of Dropbox during the 4th quarter worth approximately $26,000. Fifth Third Bancorp boosted its position in Dropbox by 424.2% during the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after purchasing an additional 878 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Dropbox by 29,175.0% in the third 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 during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Dropbox in the third quarter valued at $62,000. Finally, Shell Asset Management Co. raised its position in shares of Dropbox by 51.4% in the third 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 during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Up 0.7 %

DBX stock opened at $23.47 on Wednesday. Dropbox, Inc. has a 52 week low of $19.55 and a 52 week high of $33.43. The business has a 50-day simple moving average of $24.17 and a 200 day simple moving average of $27.38. The company has a market cap of $8.07 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 2.59 and a beta of 0.71.

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

Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 164,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total value of $3,913,040.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $197,242,650.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Dropbox news, CEO Andrew Houston sold 164,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $197,242,650.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $23.11, for a total value of $69,330.00. Following the completion of the transaction, the chief financial officer now directly owns 594,995 shares of the company’s stock, valued at approximately $13,750,334.45. The disclosure for this sale can be found here. Insiders sold a total of 189,721 shares of company stock worth $4,548,575 over the last three months. Corporate insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DBX. JMP Securities lowered shares of 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 target price for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. The Goldman Sachs Group downgraded Dropbox from a “neutral” rating to a “sell” rating and reduced their price target for the company from $26.00 to $24.00 in a research note on Friday, February 16th. KeyCorp increased their price objective on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Finally, Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and reduced their target price for the company from $34.00 to $28.00 in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox has an average rating of “Hold” and a consensus price target of $29.78.

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.