JustInvest LLC Sells 4,689 Shares of Dropbox, Inc. (NASDAQ:DBX)

JustInvest LLC lessened its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 29.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,420 shares of the company’s stock after selling 4,689 shares during the period. JustInvest LLC’s holdings in Dropbox were worth $334,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DBX. Berman Capital Advisors LLC raised its position in shares of Dropbox by 286.8% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,052 shares of the company’s stock worth $31,000 after purchasing an additional 780 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Dropbox in the 2nd quarter worth about $33,000. West Oak Capital LLC purchased a new position in shares of Dropbox in the 3rd quarter worth about $35,000. Itau Unibanco Holding S.A. purchased a new position in shares of Dropbox in the 2nd quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Dropbox by 572.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,809 shares of the company’s stock worth $53,000 after purchasing an additional 1,540 shares during the last quarter. Hedge funds and other institutional investors own 61.66% of the company’s stock.

In other Dropbox news, President Timothy H. Young sold 9,624 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $30.96, for a total value of $297,959.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $30.66, for a total value of $337,260.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,593 shares of company stock valued at $1,967,439. 30.81% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on DBX. Zacks Investment Research lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Wednesday, January 5th. Berenberg Bank began coverage on Dropbox in a research report on Thursday, December 2nd. They issued a “hold” rating and a $25.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.00.

Shares of NASDAQ:DBX opened at $24.06 on Friday. The stock has a 50 day moving average of $24.85 and a 200 day moving average of $28.64. Dropbox, Inc. has a 12-month low of $21.57 and a 12-month high of $33.00.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. The company had revenue of $550.20 million during the quarter, compared to the consensus estimate of $544.72 million. Dropbox had a negative return on equity of 19,335.53% and a negative net margin of 6.42%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. On average, sell-side analysts expect that Dropbox, Inc. will post 0.82 earnings per share for the current year.

Dropbox Profile

Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers following products: Dropbox Basic, Plus, Professional and Business. The Dropbox Basic is the simple, powerful home for photos, videos, docs, and other files. Its users also get access to new product Dropbox Paper, a collaborative workspace that helps teams create and share early ideas, and work with any type of content, in one centralized place.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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