Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in Dropbox, Inc. (NASDAQ:DBX) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 467,500 shares of the company’s stock after selling 5,000 shares during the quarter. Swiss National Bank’s holdings in Dropbox were worth $14,044,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DBX. Sumitomo Mitsui Trust Group Inc. grew its position in Dropbox by 4.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 38,512 shares of the company’s stock worth $979,000 after purchasing an additional 1,800 shares during the period. Natixis Advisors LLC acquired a new stake in Dropbox during the third quarter worth about $270,000. Thrivent Financial for Lutherans raised its position in Dropbox by 12.6% during the third quarter. Thrivent Financial for Lutherans now owns 65,771 shares of the company’s stock valued at $1,672,000 after acquiring an additional 7,385 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Dropbox by 12.0% in the third quarter. Advisors Asset Management Inc. now owns 27,593 shares of the company’s stock valued at $702,000 after acquiring an additional 2,960 shares during the period. Finally, Aurora Investment Counsel boosted its position in Dropbox by 18.0% in the 3rd quarter. Aurora Investment Counsel now owns 39,245 shares of the company’s stock worth $998,000 after purchasing an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders 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 1.4 %

Shares of Dropbox stock opened at $26.75 on Thursday. The firm has a market cap of $8.07 billion, a PE ratio of 18.97, a P/E/G ratio of 1.70 and a beta of 0.77. 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 $29.48 and a 200 day moving average price of $27.91.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, sell-side analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

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.