Ashton Thomas Private Wealth LLC Purchases 1,828 Shares of Dropbox, Inc. (NASDAQ:DBX)

Ashton Thomas Private Wealth LLC raised its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,639 shares of the company’s stock after acquiring an additional 1,828 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Dropbox were worth $920,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DBX. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Dropbox during the third quarter valued at about $11,687,000. Jacobs Levy Equity Management Inc. raised its position in shares of Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after buying an additional 365,893 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Dropbox by 4.5% during the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after buying an additional 333,245 shares during the last quarter. Algert Global LLC raised its position in shares of Dropbox by 414.9% during the third quarter. Algert Global LLC now owns 365,832 shares of the company’s stock valued at $9,303,000 after buying an additional 294,780 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 137,499 shares of Dropbox stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $30.05, for a total transaction of $4,131,844.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $248,413,313.30. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 772,003 shares of company stock worth $23,067,375 over the last quarter. Company insiders own 28.59% of the company’s stock.

Dropbox Stock Up 3.1 %

Shares of DBX opened at $26.42 on Monday. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 18.74, 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 company has a 50-day moving average price of $30.15 and a two-hundred day moving average price of $27.87.

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

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped their price objective 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.

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.