Hancock Whitney Corp Has $518,000 Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Hancock Whitney Corp decreased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 10.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 21,324 shares of the company’s stock after selling 2,414 shares during the quarter. Hancock Whitney Corp’s holdings in Dropbox were worth $518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in Dropbox by 51.5% during the 1st quarter. Tidal Investments LLC now owns 12,804 shares of the company’s stock worth $311,000 after purchasing an additional 4,350 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Dropbox by 0.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock worth $113,485,000 after purchasing an additional 32,600 shares during the period. Janus Henderson Group PLC lifted its holdings in Dropbox by 16.4% in the first quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after buying an additional 228,316 shares during the period. London & Capital Asset Management Ltd acquired a new position in Dropbox in the first quarter valued at $805,000. Finally, Hyperion Capital Advisors LP bought a new stake in Dropbox in the first quarter valued at $220,000. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup decreased their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.56.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $23.12, for a total transaction of $69,360.00. Following the completion of the transaction, the chief financial officer now directly owns 554,122 shares in the company, valued at $12,811,300.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $23.12, for a total value of $69,360.00. Following the completion of the transaction, the chief financial officer now directly owns 554,122 shares in the company, valued at approximately $12,811,300.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Cox sold 8,536 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $21.27, for a total value of $181,560.72. Following the completion of the transaction, the insider now owns 350,471 shares of the company’s stock, valued at $7,454,518.17. The disclosure for this sale can be found here. Insiders sold a total of 208,536 shares of company stock worth $4,672,611 over the last ninety days. 26.40% of the stock is owned by corporate insiders.

Dropbox Stock Down 3.0 %

Shares of NASDAQ:DBX traded down $0.71 during midday trading on Thursday, reaching $23.21. 1,115,676 shares of the company traded hands, compared to its average volume of 4,017,079. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.65. The firm’s fifty day moving average price is $22.44 and its two-hundred day moving average price is $24.73.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. Analysts forecast that Dropbox, Inc. will post 1.26 earnings per share 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.