Catalyst Funds Management Pty Ltd Reduces Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Catalyst Funds Management Pty Ltd lessened its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,500 shares of the company’s stock after selling 500 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Dropbox were worth $225,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DBX. Commonwealth Equity Services LLC purchased a new stake in shares of Dropbox in the fourth quarter worth about $201,000. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Dropbox by 3.9% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 42,638 shares of the company’s stock worth $1,291,000 after buying an additional 1,585 shares during the last quarter. Vestcor Inc boosted its stake in shares of Dropbox by 163.4% in the fourth quarter. Vestcor Inc now owns 114,750 shares of the company’s stock worth $3,447,000 after buying an additional 71,178 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Dropbox by 20.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 537,875 shares of the company’s stock worth $16,158,000 after buying an additional 92,139 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Dropbox

In related news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction on 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction 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 of the company’s stock, valued at approximately $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 634,504 shares of company stock valued at $18,935,530 over the last quarter. 28.59% of the stock is currently owned by insiders.

Dropbox Trading Up 4.4 %

Shares of DBX stock opened at $25.62 on Monday. The company has a market capitalization of $7.73 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.70 and a beta of 0.77. The business’s 50 day moving average is $29.68 and its two-hundred day moving average is $27.91. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

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 net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. On average, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Dropbox 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.