WCG Wealth Advisors LLC Purchases 20,398 Shares of Dropbox, Inc. $DBX

WCG Wealth Advisors LLC lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 106.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,478 shares of the company’s stock after purchasing an additional 20,398 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Dropbox were worth $1,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. Rossby Financial LCC grew its position in Dropbox by 128.5% in the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after acquiring an additional 527 shares in the last quarter. Palisade Asset Management LLC purchased a new position in Dropbox in the third quarter worth about $30,000. Larson Financial Group LLC grew its position in Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after acquiring an additional 791 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after acquiring an additional 558 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Dropbox by 342.8% in the third quarter. Hantz Financial Services Inc. now owns 1,448 shares of the company’s stock worth $44,000 after acquiring an additional 1,121 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

DBX has been the subject of several recent research reports. UBS Group dropped their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. William Blair reiterated an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Citigroup lifted their price target on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $27.00.

Dropbox Stock Up 1.2%

Shares of NASDAQ:DBX opened at $27.52 on Friday. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $32.40. The firm has a 50 day moving average of $25.11 and a 200 day moving average of $26.19.

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

Insider Buying and Selling

In related news, CTO Ali Dasdan sold 5,666 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.56, for a total value of $156,154.96. Following the completion of the transaction, the chief technology officer owned 514,611 shares of the company’s stock, valued at $14,182,679.16. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Andrew Houston sold 111,166 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $22.89, for a total transaction of $2,544,589.74. Following the completion of the transaction, the chief executive officer directly owned 8,266,666 shares of the company’s stock, valued at $189,223,984.74. This trade represents a 1.33% decrease in their position. 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 239,883 shares of company stock valued at $6,006,972 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.