Seizert Capital Partners LLC Trims Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Seizert Capital Partners LLC lowered its stake in Dropbox, Inc. (NASDAQ:DBX) by 0.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 300,808 shares of the company’s stock after selling 634 shares during the quarter. Seizert Capital Partners LLC’s holdings in Dropbox were worth $9,036,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. grew its position in Dropbox by 10.6% in the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after acquiring an additional 21,190 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Dropbox in the third quarter valued at approximately $482,000. Retirement Systems of Alabama grew its holdings in shares of Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after purchasing an additional 124,528 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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. Finally, IVY Lane Capital Management LLC acquired a new stake in Dropbox during the 3rd quarter worth approximately $3,179,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of DBX opened at $26.32 on Wednesday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The stock has a market capitalization of $7.94 billion, a PE ratio of 18.67, a PEG ratio of 1.70 and a beta of 0.77. The stock has a 50-day simple moving average of $30.43 and a 200-day simple moving average of $27.82.

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

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 137,499 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $30.05, for a total value of $4,131,844.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $248,413,313.30. This trade represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 772,003 shares of company stock valued at $23,067,375. 28.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.