Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC reduced its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 19.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,142 shares of the company’s stock after selling 1,750 shares during the quarter. Carret Asset Management LLC’s holdings in Dropbox were worth $215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP raised its stake in Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after acquiring an additional 424 shares in the last quarter. Quarry LP increased its stake in Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after purchasing an additional 459 shares during the period. Aaron Wealth Advisors LLC increased its stake in Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock valued at $305,000 after purchasing an additional 461 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Dropbox by 35.6% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after buying an additional 472 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 413,764 shares of the company’s stock, valued at approximately $12,570,150.32. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 634,504 shares of company stock valued at $18,935,530. 28.59% of the stock is owned by corporate insiders.

Dropbox Stock Up 4.4 %

NASDAQ DBX opened at $25.62 on Friday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The business’s 50-day moving average price is $29.68 and its 200 day moving average price is $27.86. The firm has a market cap of $7.73 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.70 and a beta of 0.77.

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

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised 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 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.