Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Heron Bay Capital Management

Heron Bay Capital Management raised its stake in Dropbox, Inc. (NASDAQ:DBX) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,769 shares of the company’s stock after acquiring an additional 378 shares during the quarter. Heron Bay Capital Management’s holdings in Dropbox were worth $504,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of DBX. Natixis Advisors LLC acquired a new position in shares of Dropbox during the 3rd quarter worth approximately $270,000. Thrivent Financial for Lutherans raised its stake in shares of Dropbox by 12.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 65,771 shares of the company’s stock worth $1,672,000 after buying an additional 7,385 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Dropbox by 12.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 27,593 shares of the company’s stock worth $702,000 after buying an additional 2,960 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Dropbox by 25.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 615,879 shares of the company’s stock worth $15,662,000 after buying an additional 123,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after buying an additional 228,685 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 500,323 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the transaction, the chief financial officer now owns 413,764 shares of the company’s stock, valued at approximately $12,570,150.32. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 634,504 shares of company stock worth $18,935,530 in the last three months. 28.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Dropbox Stock Performance

NASDAQ DBX opened at $26.50 on Friday. The business has a fifty day moving average price of $29.36 and a 200 day moving average price of $27.94. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The company has a market cap of $8.00 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.