Ashton Thomas Private Wealth LLC Has $920,000 Position in Dropbox, Inc. (NASDAQ:DBX)

Ashton Thomas Private Wealth LLC lifted its stake in Dropbox, Inc. (NASDAQ:DBX) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,639 shares of the company’s stock after purchasing an additional 1,828 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Dropbox were worth $920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in shares of Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after purchasing an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Dropbox by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock valued at $87,537,000 after purchasing an additional 117,767 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after purchasing an additional 124,528 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Insiders Place Their Bets

In other news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 772,003 shares of company stock valued at $23,067,375. Company insiders own 28.59% of the company’s stock.

Dropbox Stock Performance

DBX opened at $26.42 on Monday. The company has a fifty day moving average price of $30.15 and a two-hundred day moving average price of $27.87. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The firm has a market capitalization of $7.97 billion, a PE ratio of 18.74, a P/E/G ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Equities analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

About Dropbox

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.