52,530 Shares in Dropbox, Inc. (NASDAQ:DBX) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,530 shares of the company’s stock, valued at approximately $1,578,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of 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. Avion Wealth grew its holdings in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Dropbox in the 4th quarter worth about $40,000. Allworth Financial LP lifted its stake 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 purchasing an additional 365 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in shares of Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after purchasing an additional 482 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the transaction, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at $12,755,738.16. This represents a 0.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 29,917 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $30.07, for a total value of $899,604.19. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $248,578,646.62. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 632,004 shares of company stock valued at $18,859,580 over the last three months. Corporate insiders own 28.59% of the company’s stock.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $26.56 on Monday. The company has a 50-day moving average price of $29.03 and a 200-day moving average price of $28.09. The stock has a market capitalization of $8.01 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its earnings results 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 firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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.

Dropbox 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.