Ritholtz Wealth Management Sells 51,086 Shares of Dropbox, Inc. $DBX

Ritholtz Wealth Management decreased its stake in Dropbox, Inc. (NASDAQ:DBX) by 64.6% during the 1st quarter, HoldingsChannel reports. The fund owned 28,023 shares of the company’s stock after selling 51,086 shares during the period. Ritholtz Wealth Management’s holdings in Dropbox were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Palisade Asset Management LLC acquired a new position in Dropbox during the 3rd quarter valued at $30,000. Kestra Advisory Services LLC acquired a new stake in Dropbox in the 4th quarter worth $31,000. Larson Financial Group LLC grew its position in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Dropbox during the 4th quarter worth about $38,000. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $27.47 on Wednesday. The business’s fifty day moving average price is $26.37 and its two-hundred day moving average price is $25.85. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $32.40. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. During the same period last year, the business earned $0.70 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Research analysts expect that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DBX. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Citigroup raised their price objective on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. William Blair reissued an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $27.00.

Insider Buying and Selling at Dropbox

In related news, CEO Ashraf Alkarmi sold 22,700 shares of Dropbox stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $27.86, for a total transaction of $632,422.00. Following the completion of the transaction, the chief executive officer directly owned 1,080,746 shares of the company’s stock, valued at $30,109,583.56. This trade represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 30,332 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.50, for a total transaction of $834,130.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,192 shares of company stock worth $3,429,062 over the last ninety days. Company 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.