Dropbox, Inc. $DBX Shares Sold by Seizert Capital Partners LLC

Seizert Capital Partners LLC lowered its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,829,098 shares of the company’s stock after selling 26,486 shares during the quarter. Dropbox comprises about 2.1% of Seizert Capital Partners LLC’s holdings, making the stock its 19th largest position. Seizert Capital Partners LLC’s holdings in Dropbox were worth $50,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in shares of Dropbox by 38.1% in the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after purchasing an additional 3,205,140 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Dropbox by 2.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 6,806,508 shares of the company’s stock valued at $205,625,000 after purchasing an additional 144,347 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Dropbox by 1.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after purchasing an additional 70,867 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Dropbox by 22.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after purchasing an additional 463,258 shares in the last quarter. Finally, Northern Trust Corp increased its position in Dropbox by 29.1% during the 3rd quarter. Northern Trust Corp now owns 2,488,077 shares of the company’s stock worth $75,165,000 after purchasing an additional 560,694 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DBX shares. Royal Bank Of Canada cut their price objective on Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. William Blair reiterated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. UBS Group decreased their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Finally, Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Dropbox presently has an average rating of “Reduce” and an average target price of $27.50.

Dropbox Price Performance

Dropbox stock opened at $24.93 on Monday. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $32.40. The firm has a market capitalization of $6.01 billion, a PE ratio of 13.40, a P/E/G ratio of 1.76 and a beta of 0.64. The firm’s 50-day simple moving average is $24.32 and its 200 day simple moving average is $26.61.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. On average, research analysts expect that Dropbox, Inc. will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dropbox news, insider Ashraf Alkarmi sold 12,472 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $324,272.00. Following the transaction, the insider owned 414,661 shares of the company’s stock, valued at $10,781,186. This trade represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Ali Dasdan sold 7,306 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $24.89, for a total value of $181,846.34. Following the sale, the chief technology officer owned 499,379 shares of the company’s stock, valued at $12,429,543.31. The trade was a 1.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 247,519 shares of company stock valued at $5,952,284. Insiders own 35.48% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.