Dropbox, Inc. (NASDAQ:DBX) Position Trimmed by Caz Investments LP

Caz Investments LP trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 66.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,000 shares of the company’s stock after selling 6,000 shares during the quarter. Dropbox comprises 0.1% of Caz Investments LP’s portfolio, making the stock its 15th largest holding. Caz Investments LP’s holdings in Dropbox were worth $90,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares during the last quarter. Avion Wealth lifted its stake 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 buying an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Dropbox during the fourth quarter valued at $40,000. Allworth Financial LP grew its position in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Dropbox by 39.0% in the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after acquiring an additional 482 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction 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 owns 309,550 shares in the company, valued at $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. The trade was a 5.71 % 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. Corporate insiders own 28.59% of the company’s stock.

Wall Street Analyst Weigh In

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.

Dropbox Stock Performance

Shares of DBX stock opened at $26.56 on Friday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The firm has a market capitalization of $8.01 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The stock has a fifty day moving average of $29.03 and a two-hundred day moving average of $28.03.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. Equities research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal 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.