UMB Bank n.a. Cuts Stake in Dropbox, Inc. (NASDAQ:DBX)

UMB Bank n.a. lowered its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 33.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,163 shares of the company’s stock after selling 591 shares during the quarter. UMB Bank n.a.’s holdings in Dropbox were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Dropbox by 63.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after buying an additional 986,942 shares during the period. AQR Capital Management LLC increased its holdings in Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after buying an additional 859,233 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Dropbox during the 3rd quarter worth about $11,687,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after acquiring an additional 365,893 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Dropbox by 4.5% during the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after purchasing an additional 333,245 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Price Performance

DBX stock opened at $31.48 on Friday. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61. The company has a fifty day moving average price of $29.52 and a 200 day moving average price of $26.34.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.16). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. The company had revenue of $638.80 million for the quarter, compared to analysts’ expectations of $636.93 million. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, analysts anticipate that Dropbox, Inc. will post 1.49 earnings per share for the current year.

Insider Buying and Selling at Dropbox

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $232,458,647.92. This represents a 1.57 % 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 company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total value of $64,275.00. Following the completion of the sale, the chief financial officer now owns 464,247 shares in the company, valued at approximately $11,935,790.37. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 902,568 shares of company stock valued at $26,713,030. 26.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.50.

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.