Swiss National Bank Trims Stake in Dropbox, Inc. (NASDAQ:DBX)

Swiss National Bank cut its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 467,500 shares of the company’s stock after selling 5,000 shares during the period. Swiss National Bank owned about 0.15% of Dropbox worth $14,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in DBX. Allworth Financial LP boosted its stake in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares during the period. Quarry LP boosted its position in Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after acquiring an additional 459 shares in the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of Dropbox by 4.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock valued at $305,000 after acquiring an additional 461 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Dropbox by 35.6% in the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after acquiring an additional 472 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the transaction, the chief financial officer now directly owns 403,764 shares of the company’s stock, valued at $11,971,602.60. This represents a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction dated 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 directly owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 634,504 shares of company stock worth $18,935,530. Insiders own 28.59% of the company’s stock.

Analysts Set New Price Targets

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

Dropbox Stock Up 1.4 %

Shares of DBX opened at $26.75 on Thursday. The company has a 50 day moving average of $29.48 and a two-hundred day moving average of $27.91. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data 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). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. 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.