Hsbc Holdings PLC Has $1.99 Million Stock Holdings in Dropbox, Inc. $DBX

Hsbc Holdings PLC decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 33.8% during the 4th quarter, Holdings Channel reports. The firm owned 71,740 shares of the company’s stock after selling 36,632 shares during the quarter. Hsbc Holdings PLC’s holdings in Dropbox were worth $1,991,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Dropbox by 7.3% in the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after acquiring an additional 2,655 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Dropbox by 10.8% in the second quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock valued at $704,000 after acquiring an additional 2,405 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Dropbox by 88.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $48,000 after buying an additional 787 shares during the period. Cresset Asset Management LLC boosted its stake in Dropbox by 75.8% in the second quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after acquiring an additional 6,569 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Dropbox by 360.9% during the 2nd quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock worth $3,371,000 after acquiring an additional 92,280 shares during the period. 94.84% of the stock is owned by institutional investors.

Dropbox Trading Down 0.7%

Shares of DBX stock traded down $0.22 on Friday, hitting $29.19. The stock had a trading volume of 2,743,123 shares, compared to its average volume of 3,554,992. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40. The company has a fifty day moving average price of $27.10 and a two-hundred day moving average price of $25.89. The firm has a market cap of $6.81 billion, a P/E ratio of 15.95, a PEG ratio of 3.20 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. During the same period in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts expect that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Insider Activity at Dropbox

In related news, Director Andrew William Moore sold 8,443 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $232,773.51. Following the completion of the sale, the director directly owned 4,737 shares of the company’s stock, valued at approximately $130,599.09. This represents a 64.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Houston sold 30,332 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was 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 130,497 shares of company stock valued at $3,522,440 over the last 90 days. Insiders own 35.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup increased their price target on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. William Blair reissued an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. One investment 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. Based on data from MarketBeat.com, Dropbox has a consensus rating of “Reduce” and an average price target of $27.00.

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.