United Services Automobile Association Reduces Stock Position in Dropbox, Inc. (NASDAQ:DBX)

United Services Automobile Association trimmed its position in Dropbox, Inc. (NASDAQ:DBX) by 3.8% in the 4th quarter, HoldingsChannel reports. The firm owned 15,501 shares of the company’s stock after selling 615 shares during the quarter. United Services Automobile Association’s holdings in Dropbox were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DBX. EverSource Wealth Advisors LLC raised its position in Dropbox by 96.1% during the 4th 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 last quarter. Avion Wealth raised its holdings in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after purchasing an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Dropbox during the fourth quarter valued at $40,000. Allworth Financial LP boosted 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 purchasing an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its position in Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after purchasing an additional 482 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $27.13 on Tuesday. The company has a market capitalization of $8.19 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The company’s fifty day moving average price is $29.31 and its 200 day moving average price is $27.99. 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 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 business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. On average, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated 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 owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 634,504 shares of company stock worth $18,935,530 over the last three months. 28.59% of the stock is currently owned by corporate insiders.

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.