HighTower Advisors LLC Acquires 1,131 Shares of Dropbox, Inc. (NASDAQ:DBX)

HighTower Advisors LLC raised its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,707 shares of the company’s stock after purchasing an additional 1,131 shares during the quarter. HighTower Advisors LLC’s holdings in Dropbox were worth $832,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in DBX. Avion Wealth grew its holdings in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Dropbox during the fourth quarter worth $40,000. Allworth Financial LP grew its holdings in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after buying an additional 365 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Dropbox by 39.0% in the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after buying an additional 482 shares during the period. Finally, Vision Financial Markets LLC bought a new stake in shares of Dropbox in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ DBX opened at $26.93 on Friday. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 1.70 and a beta of 0.77. The business has a 50 day simple moving average of $29.11 and a 200 day simple moving average of $28.01. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $638.61 million. On average, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now owns 309,550 shares of the company’s stock, valued at $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 634,504 shares of company stock valued at $18,935,530. Company insiders own 28.59% of the company’s stock.

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.