Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Vestcor Inc

Vestcor Inc raised its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 163.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,750 shares of the company’s stock after buying an additional 71,178 shares during the period. Vestcor Inc’s holdings in Dropbox were worth $3,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DBX. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 424 shares in the last quarter. Avion Wealth raised its holdings in Dropbox by 4,472.7% in the fourth 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. SBI Securities Co. Ltd. acquired a new stake in Dropbox in the fourth quarter valued at $40,000. Allworth Financial LP raised its holdings in Dropbox by 33.5% in the fourth 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. Finally, V Square Quantitative Management LLC raised its holdings in Dropbox by 39.0% in the fourth 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. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th.

Insider Buying and Selling

In other news, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value 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 approximately $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 634,504 shares of company stock worth $18,935,530. Insiders own 28.59% of the company’s stock.

Dropbox Stock Down 2.8 %

Shares of DBX opened at $24.55 on Friday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The firm has a market capitalization of $7.41 billion, a PE ratio of 17.41, a P/E/G ratio of 1.70 and a beta of 0.77. The firm has a 50-day moving average price of $29.77 and a 200 day moving average price of $27.85.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. On average, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

About Dropbox

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.