Dropbox, Inc. (NASDAQ:DBX) Shares Sold by JustInvest LLC

JustInvest LLC cut its position in Dropbox, Inc. (NASDAQ:DBX) by 29.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,420 shares of the company’s stock after selling 4,689 shares during the period. JustInvest LLC’s holdings in Dropbox were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of DBX. Commonwealth Equity Services LLC boosted its stake in Dropbox by 0.9% during the third quarter. Commonwealth Equity Services LLC now owns 46,829 shares of the company’s stock worth $1,368,000 after buying an additional 438 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Dropbox by 2.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,324 shares of the company’s stock worth $769,000 after buying an additional 508 shares during the last quarter. Berman Capital Advisors LLC boosted its stake in Dropbox by 51.3% during the third quarter. Berman Capital Advisors LLC now owns 1,592 shares of the company’s stock worth $46,000 after buying an additional 540 shares during the last quarter. Advisory Services Network LLC boosted its stake in Dropbox by 8.0% during the third quarter. Advisory Services Network LLC now owns 8,055 shares of the company’s stock worth $235,000 after buying an additional 597 shares during the last quarter. Finally, Hallmark Capital Management Inc. boosted its stake in Dropbox by 8.4% during the third quarter. Hallmark Capital Management Inc. now owns 9,362 shares of the company’s stock worth $274,000 after buying an additional 727 shares during the last quarter. 61.66% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the company. Berenberg Bank assumed coverage on Dropbox in a research note on Thursday, December 2nd. They set a “hold” rating and a $25.00 price objective on the stock. Zacks Investment Research lowered Dropbox from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.00.

In other Dropbox news, insider Bart Volkmer sold 10,880 shares of the company’s stock in a transaction dated Friday, December 10th. The stock was sold at an average price of $24.04, for a total transaction of $261,555.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Timothy Regan sold 11,000 shares of the company’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $30.66, for a total value of $337,260.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,593 shares of company stock worth $1,967,439. 30.81% of the stock is owned by company insiders.

DBX stock opened at $24.06 on Friday. Dropbox, Inc. has a 12-month low of $21.57 and a 12-month high of $33.00. The business’s fifty day moving average price is $24.85 and its 200 day moving average price is $28.64.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The firm had revenue of $550.20 million for the quarter, compared to the consensus estimate of $544.72 million. Dropbox had a negative return on equity of 19,335.53% and a negative net margin of 6.42%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. On average, research analysts expect that Dropbox, Inc. will post 0.82 EPS for the current year.

Dropbox Profile

Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers following products: Dropbox Basic, Plus, Professional and Business. The Dropbox Basic is the simple, powerful home for photos, videos, docs, and other files. Its users also get access to new product Dropbox Paper, a collaborative workspace that helps teams create and share early ideas, and work with any type of content, in one centralized place.

Further Reading: Dividend Achievers

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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