Clay Northam Wealth Management LLC Acquires New Position in Dropbox, Inc. (NASDAQ:DBX)

Clay Northam Wealth Management LLC purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 6,855 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after acquiring an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after purchasing an additional 365,893 shares during the period. Geode Capital Management LLC raised its holdings in shares of Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after purchasing an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.50.

Dropbox Stock Down 0.6 %

Shares of NASDAQ:DBX opened at $31.95 on Tuesday. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61. The firm has a 50 day moving average of $30.04 and a 200 day moving average of $26.71. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The company had revenue of $638.80 million for the quarter, compared to analysts’ expectations of $636.93 million. During the same quarter last year, the company earned $0.35 earnings per share. On average, sell-side analysts expect that Dropbox, Inc. will post 1.49 EPS for the current year.

Insider Buying and Selling at Dropbox

In related news, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the transaction, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. The trade was a 0.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $27.17, for a total value of $67,925.00. Following the completion of the sale, the chief financial officer now owns 436,264 shares of the company’s stock, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 902,568 shares of company stock valued at $26,729,180. 26.40% of the stock is currently owned by insiders.

Dropbox 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.