SG Americas Securities LLC Has $688,000 Position in Dropbox, Inc. (NASDAQ:DBX)

SG Americas Securities LLC lessened its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 36.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,052 shares of the company’s stock after selling 15,377 shares during the period. SG Americas Securities LLC’s holdings in Dropbox were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in DBX. Vanguard Group Inc. boosted its holdings in shares of Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after purchasing an additional 105,250 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Dropbox by 5.2% in the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after buying an additional 506,200 shares in the last quarter. Pacer Advisors Inc. grew its position in Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after acquiring an additional 2,881,981 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Dropbox by 0.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock worth $113,485,000 after acquiring an additional 32,600 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Dropbox by 9.2% in the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock worth $84,089,000 after acquiring an additional 314,862 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DBX shares. Citigroup decreased their price target on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. UBS Group lowered their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.67.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 3,177 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $79,425.00. Following the completion of the sale, the chief financial officer now owns 481,747 shares of the company’s stock, valued at approximately $12,043,675. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Dropbox news, CFO Timothy Regan sold 3,177 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $79,425.00. Following the sale, the chief financial officer now owns 481,747 shares of the company’s stock, valued at approximately $12,043,675. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 351,306 shares of Dropbox stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $207,658,649.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 454,952 shares of company stock valued at $11,414,612 over the last ninety days. 26.40% of the stock is owned by company insiders.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $25.90 on Monday. The firm has a 50 day moving average price of $24.13 and a two-hundred day moving average price of $23.35. The stock has a market cap of $8.55 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. Dropbox’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. Analysts predict that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Dropbox Company 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.