Huntington National Bank Grows Position in Dropbox, Inc. (NASDAQ:DBX)

Huntington National Bank grew its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 768.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,538 shares of the company’s stock after purchasing an additional 1,361 shares during the quarter. Huntington National Bank’s holdings in Dropbox were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DBX. HighTower Advisors LLC raised its holdings in Dropbox by 68.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,576 shares of the company’s stock worth $683,000 after purchasing an additional 10,777 shares during the period. Quarry LP raised its stake in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after buying an additional 459 shares during the period. Weiss Asset Management LP purchased a new position in shares of Dropbox during the 3rd quarter valued at approximately $1,006,000. Orion Portfolio Solutions LLC purchased a new position in shares of Dropbox during the 3rd quarter valued at approximately $688,000. Finally, M&T Bank Corp acquired a new stake in Dropbox in the 3rd quarter valued at $229,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total value of $75,925.00. Following the completion of the sale, the chief financial officer now directly owns 401,264 shares in the company, valued at $12,186,387.68. This represents a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,264 shares of company stock valued at $2,895,324. Corporate insiders own 28.59% of the company’s stock.

Dropbox Trading Up 0.0 %

NASDAQ:DBX opened at $25.46 on Tuesday. The firm has a market cap of $7.68 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The stock has a 50 day moving average of $28.46 and a two-hundred day moving average of $28.17. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

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

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their price objective 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 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.