Venturi Wealth Management LLC Acquires 2,092 Shares of Dropbox, Inc. (NASDAQ:DBX)

Venturi Wealth Management LLC boosted its stake in Dropbox, Inc. (NASDAQ:DBX) by 54.8% in the 4th quarter, Holdings Channel reports. The firm owned 5,910 shares of the company’s stock after acquiring an additional 2,092 shares during the quarter. Venturi Wealth Management LLC’s holdings in Dropbox were worth $178,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Dropbox in the 3rd quarter valued at about $28,000. Avion Wealth raised its holdings in shares of Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. Allworth Financial LP raised 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 acquiring an additional 365 shares in the last quarter. V Square Quantitative Management LLC raised 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 acquiring an additional 482 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Dropbox by 35.6% in the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock valued at $54,000 after acquiring an additional 472 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

NASDAQ:DBX opened at $26.71 on Friday. The business has a 50 day moving average of $30.99 and a 200 day moving average of $27.55. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.74 and a beta of 0.61. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. As a group, sell-side analysts anticipate that Dropbox, Inc. will post 1.49 EPS for the current year.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 137,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $248,413,313.30. The trade was a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the sale, the chief financial officer now owns 396,264 shares of the company’s stock, valued at $12,755,738.16. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 900,238 shares of company stock worth $26,680,195 in the last quarter. 28.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised their price target on Dropbox from $27.00 to $30.00 and gave the company 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.