Creative Planning Has $469,000 Stock Holdings in Dropbox Inc (NASDAQ:DBX)

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Creative Planning cut its position in Dropbox Inc (NASDAQ:DBX) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,245 shares of the company’s stock after selling 5,513 shares during the period. Creative Planning’s holdings in Dropbox were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC grew its stake in shares of Dropbox by 4.7% in the 2nd quarter. Private Advisor Group LLC now owns 12,644 shares of the company’s stock valued at $317,000 after buying an additional 565 shares during the period. US Bancorp DE boosted its stake in Dropbox by 10.4% during the 2nd quarter. US Bancorp DE now owns 9,517 shares of the company’s stock valued at $238,000 after purchasing an additional 900 shares during the last quarter. Emerald Advisers LLC boosted its stake in Dropbox by 2.0% during the 2nd quarter. Emerald Advisers LLC now owns 52,765 shares of the company’s stock valued at $1,322,000 after purchasing an additional 1,053 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in Dropbox by 203.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 1,600 shares of the company’s stock valued at $40,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Whittier Trust Co. acquired a new position in Dropbox during the 3rd quarter valued at about $27,000. Institutional investors own 40.18% of the company’s stock.

Shares of NASDAQ DBX opened at $18.84 on Friday. Dropbox Inc has a twelve month low of $17.20 and a twelve month high of $26.49. The stock’s 50 day moving average price is $19.61 and its 200-day moving average price is $21.63. The company has a market capitalization of $7.80 billion, a PE ratio of -14.38 and a beta of 1.56. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.99.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.17. Dropbox had a negative return on equity of 6.96% and a negative net margin of 3.49%. The firm had revenue of $428.20 million for the quarter, compared to the consensus estimate of $423.48 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. As a group, research analysts expect that Dropbox Inc will post -0.1 EPS for the current fiscal year.

A number of research firms have issued reports on DBX. Canaccord Genuity dropped coverage on Dropbox in a research note on Friday, September 27th. Zacks Investment Research downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group cut their price target on Dropbox from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada dropped coverage on Dropbox in a research note on Thursday, September 26th. Finally, TheStreet downgraded Dropbox from a “c-” rating to a “d+” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $28.10.

In other news, CTO Quentin Clark sold 8,333 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $19.00, for a total value of $158,327.00. Also, CEO Andrew Houston bought 500,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $19.14 per share, for a total transaction of $9,570,000.00. Following the purchase, the chief executive officer now directly owns 10,333,333 shares in the company, valued at $197,779,993.62. The disclosure for this purchase can be found here. Insiders sold a total of 87,833 shares of company stock worth $1,805,151 in the last 90 days. Company insiders own 31.20% of the company’s stock.

About Dropbox

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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