Abacus FCF Advisors LLC Increases Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Abacus FCF Advisors LLC boosted its position in Dropbox, Inc. (NASDAQ:DBX) by 46.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,646 shares of the company’s stock after buying an additional 25,296 shares during the quarter. Abacus FCF Advisors LLC’s holdings in Dropbox were worth $2,393,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 401,264 shares in the company, valued at approximately $12,186,387.68. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,264 shares of company stock valued at $2,895,324 over the last quarter. Corporate insiders own 28.59% of the company’s stock.

Analyst Ratings Changes

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

Dropbox Stock Performance

Shares of DBX stock opened at $25.46 on Tuesday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The firm has a market capitalization of $7.68 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The stock has a fifty day moving average of $28.46 and a two-hundred day moving average of $28.17.

Dropbox (NASDAQ:DBX) last announced its 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). The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Equities research analysts predict 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.