Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,500 shares of the company’s stock after selling 500 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Dropbox were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC purchased a new stake in Dropbox in the 4th quarter valued at approximately $201,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in Dropbox by 3.9% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 42,638 shares of the company’s stock valued at $1,291,000 after purchasing an additional 1,585 shares in the last quarter. Vestcor Inc boosted its holdings in Dropbox by 163.4% in the 4th quarter. Vestcor Inc now owns 114,750 shares of the company’s stock valued at $3,447,000 after purchasing an additional 71,178 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Dropbox by 20.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 537,875 shares of the company’s stock valued at $16,158,000 after purchasing an additional 92,139 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after purchasing an additional 424 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $25.62 on Monday. The business’s 50 day simple moving average is $29.68 and its 200-day simple moving average is $27.91. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. On average, equities analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the sale, the chief financial officer now owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. This represents a 0.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 634,504 shares of company stock valued at $18,935,530. 28.59% of the stock is owned by corporate insiders.

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.