Dropbox, Inc. $DBX Shares Sold by Seizert Capital Partners LLC

Seizert Capital Partners LLC lessened its stake in Dropbox, Inc. (NASDAQ:DBX) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,829,098 shares of the company’s stock after selling 26,486 shares during the period. Dropbox comprises approximately 2.1% of Seizert Capital Partners LLC’s investment portfolio, making the stock its 19th largest holding. Seizert Capital Partners LLC owned 0.71% of Dropbox worth $50,849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LSV Asset Management boosted its stake in shares of Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after acquiring an additional 3,205,140 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Dropbox by 117.3% in the 3rd quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock valued at $12,324,000 after purchasing an additional 220,176 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in Dropbox by 3,963.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company’s stock worth $9,452,000 after purchasing an additional 305,192 shares during the period. Nisa Investment Advisors LLC raised its holdings in Dropbox by 57.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock worth $6,219,000 after purchasing an additional 82,053 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in Dropbox during the third quarter worth approximately $4,497,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on DBX. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Royal Bank Of Canada decreased their price target on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. JPMorgan Chase & Co. lowered their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Finally, William Blair reissued an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. One 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 stock. According to MarketBeat.com, Dropbox currently has an average rating of “Reduce” and an average target price of $27.50.

Insider Buying and Selling at Dropbox

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,416 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $24.49, for a total value of $34,677.84. Following the sale, the chief accounting officer directly owned 86,319 shares of the company’s stock, valued at approximately $2,113,952.31. This represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ashraf Alkarmi sold 12,472 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total transaction of $324,272.00. Following the transaction, the insider owned 414,661 shares of the company’s stock, valued at approximately $10,781,186. The trade was a 2.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 247,519 shares of company stock worth $5,952,284. 35.48% of the stock is currently owned by corporate insiders.

Dropbox Price Performance

Shares of Dropbox stock opened at $24.93 on Monday. The stock has a market cap of $6.01 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.76 and a beta of 0.64. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40. The stock’s 50 day simple moving average is $24.32 and its 200-day simple moving average is $26.61.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 earnings per share. As a group, research analysts expect that Dropbox, Inc. will post 2.03 EPS for the current fiscal year.

About Dropbox

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.