United Services Automobile Association Sells 615 Shares of Dropbox, Inc. (NASDAQ:DBX)

United Services Automobile Association reduced its stake in Dropbox, Inc. (NASDAQ:DBX) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,501 shares of the company’s stock after selling 615 shares during the period. United Services Automobile Association’s holdings in Dropbox were worth $466,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC increased its holdings in Dropbox by 31.2% during the 4th quarter. LPL Financial LLC now owns 24,506 shares of the company’s stock worth $736,000 after purchasing an additional 5,823 shares during the period. Heron Bay Capital Management grew its position in shares of Dropbox by 2.3% during the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company’s stock worth $504,000 after buying an additional 378 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Dropbox during the fourth quarter valued at $25,375,000. AXQ Capital LP bought a new stake in shares of Dropbox in the fourth quarter valued at about $270,000. Finally, Hillsdale Investment Management Inc. lifted its stake in Dropbox by 4.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 34,200 shares of the company’s stock worth $1,027,000 after acquiring an additional 1,400 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the 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 directly owns 309,550 shares in the company, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the sale, the chief financial officer now owns 396,264 shares in the company, valued at $12,755,738.16. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 634,504 shares of company stock valued at $18,935,530 over the last 90 days. Insiders own 28.59% of the company’s stock.

Dropbox Trading Up 2.4 %

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 P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The business’s fifty day simple moving average is $29.31 and its 200-day simple moving average is $27.99.

Dropbox (NASDAQ:DBX) last announced 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 negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

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.