Hancock Whitney Corp Decreases Position in Dropbox, Inc. (NASDAQ:DBX)

Hancock Whitney Corp lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,324 shares of the company’s stock after selling 2,414 shares during the quarter. Hancock Whitney Corp’s holdings in Dropbox were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in shares of Dropbox during the fourth quarter valued at about $25,000. Sound Income Strategies LLC purchased a new position in shares of Dropbox during the first quarter valued at approximately $28,000. Principal Securities Inc. purchased a new position in shares of Dropbox during the fourth quarter valued at approximately $34,000. Avalon Trust Co purchased a new stake in Dropbox during the fourth quarter valued at approximately $39,000. Finally, Quarry LP purchased a new stake in Dropbox during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eric Cox sold 8,536 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the completion of the transaction, the insider now owns 350,471 shares of the company’s stock, valued at $7,454,518.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Eric Cox sold 8,536 shares of Dropbox stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the transaction, the insider now directly owns 350,471 shares in the company, valued at approximately $7,454,518.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $185,173,318.40. The disclosure for this sale can be found here. Insiders sold a total of 208,536 shares of company stock valued at $4,672,611 over the last 90 days. 26.40% of the stock is owned by company insiders.

Dropbox Stock Performance

Shares of DBX traded down $0.71 during trading hours on Thursday, hitting $23.21. The stock had a trading volume of 1,115,676 shares, compared to its average volume of 4,017,079. The firm has a 50-day moving average price of $22.44 and a 200 day moving average price of $24.73. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.70 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The company had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $628.81 million. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. As a group, analysts predict that Dropbox, Inc. will post 1.26 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Citigroup reduced their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.56.

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.