Crossmark Global Holdings Inc. Has $5.64 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

Crossmark Global Holdings Inc. reduced its stake in Dropbox, Inc. (NASDAQ:DBX) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,602 shares of the company’s stock after selling 9,040 shares during the period. Crossmark Global Holdings Inc.’s holdings in Dropbox were worth $5,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aaron Wealth Advisors LLC boosted its position in Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock valued at $305,000 after buying an additional 461 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Dropbox during the 4th quarter valued at $229,000. Oak Thistle LLC grew its position in Dropbox by 70.4% during the 4th quarter. Oak Thistle LLC now owns 32,249 shares of the company’s stock worth $969,000 after acquiring an additional 13,320 shares during the last quarter. Cooper Financial Group increased its holdings in Dropbox by 39.8% in the 4th quarter. Cooper Financial Group now owns 22,466 shares of the company’s stock worth $675,000 after purchasing an additional 6,395 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in Dropbox in the fourth quarter valued at about $3,205,000. 94.84% of the stock is owned by institutional investors.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on 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 directly owns 436,264 shares in the company, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the transaction, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 822,069 shares of company stock valued at $24,219,976. Corporate insiders own 26.40% of the company’s stock.

Dropbox Price Performance

Dropbox stock opened at $31.11 on Wednesday. The stock’s 50 day moving average is $29.24 and its 200 day moving average is $26.12. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The firm has a market cap of $9.64 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.55 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The firm had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same period in the prior year, the company posted $0.35 earnings per share. Equities analysts anticipate that Dropbox, Inc. will post 1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group boosted their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.50.

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.