Dropbox, Inc. (NASDAQ:DBX) Position Decreased by Centiva Capital LP

Centiva Capital LP cut its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 76.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,637 shares of the company’s stock after selling 50,342 shares during the period. Centiva Capital LP’s holdings in Dropbox were worth $470,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cooper Financial Group increased its stake in Dropbox by 39.8% in the 4th quarter. Cooper Financial Group now owns 22,466 shares of the company’s stock worth $675,000 after purchasing an additional 6,395 shares in the last quarter. Oak Thistle LLC increased its position in shares of Dropbox by 70.4% in the fourth quarter. Oak Thistle LLC now owns 32,249 shares of the company’s stock worth $969,000 after acquiring an additional 13,320 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Dropbox during the fourth quarter valued at approximately $229,000. Aaron Wealth Advisors LLC lifted its position in shares of Dropbox by 4.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock valued at $305,000 after acquiring an additional 461 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Dropbox by 10.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,389 shares of the company’s stock worth $162,000 after purchasing an additional 490 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DBX has been the subject of a number of research analyst reports. UBS Group increased their target price on Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday. Citigroup raised their price objective on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $28.29, for a total transaction of $70,725.00. Following the completion of the sale, the chief financial officer now owns 562,568 shares in the company, valued at approximately $15,915,048.72. This represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value 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. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,265 shares of company stock worth $303,520 over the last ninety days. 29.95% of the stock is currently owned by insiders.

Dropbox Trading Down 0.8 %

NASDAQ DBX opened at $29.46 on Friday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The firm’s fifty day simple moving average is $27.08 and its 200-day simple moving average is $28.54. The company has a market capitalization of $8.89 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 EPS. As a group, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current 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.