Shelton Capital Management Decreases Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Shelton Capital Management lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,322 shares of the company’s stock after selling 1,211 shares during the period. Shelton Capital Management’s holdings in Dropbox were worth $250,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC boosted its holdings in Dropbox by 68.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,576 shares of the company’s stock worth $683,000 after acquiring an additional 10,777 shares during the period. Orion Portfolio Solutions LLC purchased a new position in shares of Dropbox in the third quarter valued at $688,000. M&T Bank Corp acquired a new stake in Dropbox during the 3rd quarter valued at $229,000. Geode Capital Management LLC increased its stake in Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Dropbox in the 3rd quarter worth $268,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Dropbox

In related news, CEO Andrew Houston sold 80,499 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total transaction of $75,925.00. Following the completion of the transaction, the chief financial officer now directly owns 401,264 shares in the company, valued at $12,186,387.68. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,264 shares of company stock valued at $2,895,324 over the last three months. 28.59% of the stock is owned by insiders.

Dropbox Stock Performance

DBX stock opened at $27.08 on Friday. The firm has a 50 day simple moving average of $27.80 and a 200-day simple moving average of $28.21. The company has a market capitalization of $8.17 billion, a P/E ratio of 19.21, a PEG ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33.

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

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.