Private Advisor Group LLC grew its holdings in shares of Dropbox Inc (NASDAQ:DBX) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,214 shares of the company’s stock after buying an additional 1,240 shares during the quarter. Private Advisor Group LLC’s holdings in Dropbox were worth $250,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in Dropbox during the fourth quarter worth approximately $33,000. Pearl River Capital LLC purchased a new stake in Dropbox during the fourth quarter worth approximately $35,000. Capital Investment Advisory Services LLC purchased a new stake in Dropbox during the fourth quarter worth approximately $57,000. First Interstate Bank purchased a new stake in Dropbox during the fourth quarter worth approximately $82,000. Finally, Exane Derivatives grew its stake in Dropbox by 134.6% during the fourth quarter. Exane Derivatives now owns 6,100 shares of the company’s stock worth $125,000 after buying an additional 3,500 shares during the period. Institutional investors own 32.08% of the company’s stock.
Several research analysts have recently weighed in on DBX shares. Jefferies Financial Group decreased their target price on shares of Dropbox to $32.00 in a research note on Friday, February 22nd. Zacks Investment Research upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Friday, February 22nd. Bank of America upgraded shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Friday, February 22nd. ValuEngine downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Finally, William Blair started coverage on shares of Dropbox in a research note on Tuesday, December 11th. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $33.71.
Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $375.90 million for the quarter, compared to analysts’ expectations of $369.64 million. Dropbox had a negative net margin of 34.84% and a negative return on equity of 77.19%. On average, research analysts predict that Dropbox Inc will post -0.14 EPS for the current year.
In related news, insider Yamini Rangan sold 5,633 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $26.00, for a total value of $146,458.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timothy Regan sold 8,125 shares of the company’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $22.34, for a total transaction of $181,512.50. The disclosure for this sale can be found here. Insiders sold 101,961 shares of company stock worth $2,308,488 over the last ninety days.
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Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.
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