Bryce Point Capital LLC Takes Position in Dropbox, Inc. (NASDAQ:DBX)

Bryce Point Capital LLC acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 30,681 shares of the company’s stock, valued at approximately $922,000.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position 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 period. Avion Wealth lifted its holdings in 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 buying an additional 984 shares during the period. SBI Securities Co. Ltd. bought a new stake in Dropbox during the 4th quarter valued at $40,000. Allworth Financial LP increased its holdings in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares during the period. Finally, Huntington National Bank raised its position in shares of Dropbox by 768.9% in the 4th quarter. Huntington National Bank now owns 1,538 shares of the company’s stock worth $46,000 after acquiring an additional 1,361 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the completion of the transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at $9,772,206.87. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were 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. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,181 shares of company stock valued at $3,794,928. Insiders own 28.59% of the company’s stock.

Dropbox Trading Up 1.1 %

Shares of DBX opened at $27.47 on Thursday. The firm has a market cap of $8.29 billion, a PE ratio of 19.48, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The stock has a fifty day moving average price of $28.80 and a 200-day moving average price of $28.12.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results 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 business 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%. As a group, research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

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

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.