SVB Wealth LLC Makes New Investment in Dropbox, Inc. (NASDAQ:DBX)

SVB Wealth LLC bought a new position in Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,662 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Dropbox during the third quarter valued at approximately $28,000. Avion Wealth lifted its stake in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after purchasing an additional 984 shares during the last quarter. Allworth Financial LP boosted its position in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after purchasing an additional 482 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after purchasing an additional 472 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

Dropbox stock opened at $26.32 on Thursday. The stock has a market cap of $7.94 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The stock has a 50-day moving average of $30.34 and a two-hundred day moving average of $27.81. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last released 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 company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. As a group, sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 3,765 shares of the firm’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 transaction of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the sale, the chief financial officer now directly owns 396,264 shares in the company, valued at $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 772,003 shares of company stock worth $23,067,375 in the last 90 days. Insiders own 28.59% of the company’s stock.

About Dropbox

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.