Prudential PLC Sells 70,544 Shares of Dropbox, Inc. (NASDAQ:DBX)

Prudential PLC reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 56.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,863 shares of the company’s stock after selling 70,544 shares during the quarter. Prudential PLC’s holdings in Dropbox were worth $1,648,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after buying an additional 424 shares in the last quarter. Avion Wealth increased its holdings in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Dropbox in the 4th quarter valued at approximately $40,000. Allworth Financial LP boosted its stake in Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares in the last quarter. Finally, Huntington National Bank grew its position in Dropbox by 768.9% during the 4th quarter. Huntington National Bank now owns 1,538 shares of the company’s stock worth $46,000 after purchasing an additional 1,361 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Stock Down 5.1 %

Dropbox stock opened at $25.45 on Monday. The stock has a 50-day moving average price of $28.59 and a 200 day moving average price of $28.17. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX) last announced 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 business had revenue of $643.60 million for 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%. Research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 401,264 shares of the company’s stock, valued at approximately $12,186,387.68. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,264 shares of company stock worth $2,895,324. 28.59% of the stock is owned by company insiders.

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.