Intrepid Capital Management Inc. Sells 59,438 Shares of Dropbox, Inc. (NASDAQ:DBX)

Intrepid Capital Management Inc. cut its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 49.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,891 shares of the company’s stock after selling 59,438 shares during the quarter. Intrepid Capital Management Inc.’s holdings in Dropbox were worth $1,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth grew its holdings in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after buying an additional 984 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox during the fourth quarter valued at approximately $40,000. Allworth Financial LP lifted its holdings in shares of Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after buying an additional 365 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after acquiring an additional 482 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 500,323 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $245,106,646.90. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at approximately $9,772,206.87. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 634,504 shares of company stock valued at $18,926,005 in the last three months. Corporate insiders own 28.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dropbox Price Performance

NASDAQ DBX opened at $27.18 on Wednesday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The business has a 50 day simple moving average of $28.87 and a two-hundred day simple moving average of $28.13. The stock has a market capitalization of $8.20 billion, a PE ratio of 19.28, a P/E/G ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. On average, 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.