Heron Bay Capital Management Increases Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Heron Bay Capital Management boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,769 shares of the company’s stock after acquiring an additional 378 shares during the quarter. Heron Bay Capital Management’s holdings in Dropbox were worth $504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DBX. Allworth Financial LP raised its position in shares of Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after acquiring an additional 424 shares in the last quarter. Quarry LP raised its position in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after acquiring an additional 459 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Dropbox by 4.8% during the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock worth $305,000 after acquiring an additional 461 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Dropbox by 35.6% during the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after acquiring an additional 472 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox 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 transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction that occurred 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 in the company, 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. Insiders have sold 634,504 shares of company stock worth $18,935,530 in the last quarter. 28.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Dropbox Stock Up 0.5 %

NASDAQ:DBX opened at $26.50 on Friday. The stock’s 50 day moving average price is $29.36 and its 200 day moving average price is $27.94. The company has a market capitalization of $8.00 billion, a PE ratio of 18.79, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

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