National Wealth Management Group LLC Buys New Holdings in Dropbox, Inc. (NASDAQ:DBX)

National Wealth Management Group LLC purchased a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,365 shares of the company’s stock, valued at approximately $221,000.

A number of other large investors also recently modified their holdings of DBX. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after acquiring an additional 1,440,887 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Dropbox during the fourth quarter worth about $25,375,000. Norges Bank purchased a new stake in shares of Dropbox in the fourth quarter worth about $20,482,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Dropbox in the third quarter valued at about $11,687,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Dropbox by 6.2% during the 3rd 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 period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group increased 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.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total value of $75,925.00. Following the completion of the transaction, the chief financial officer now owns 401,264 shares of the company’s stock, valued at approximately $12,186,387.68. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 632,004 shares of company stock worth $18,859,580. Insiders own 28.59% of the company’s stock.

Dropbox Price Performance

Shares of Dropbox stock opened at $26.71 on Tuesday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The company has a market capitalization of $8.06 billion, a PE ratio of 18.94, a P/E/G ratio of 1.70 and a beta of 0.77. The business has a 50-day moving average of $28.95 and a 200-day moving average of $28.11.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share 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 business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. On average, equities analysts expect 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.