National Wealth Management Group LLC Buys Shares of 7,365 Dropbox, Inc. (NASDAQ:DBX)

National Wealth Management Group LLC purchased a new position in Dropbox, Inc. (NASDAQ:DBX) during the 4th quarter, HoldingsChannel reports. The firm purchased 7,365 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its position in Dropbox by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock worth $156,955,000 after buying an additional 1,440,887 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Dropbox in the 4th quarter worth about $25,375,000. Norges Bank bought a new stake in Dropbox in the 4th quarter valued at about $20,482,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in Dropbox during the 3rd quarter valued at about $11,687,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after purchasing an additional 365,893 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $245,106,646.90. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares of the company’s stock, valued at $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 632,004 shares of company stock valued at $18,859,580 over the last quarter. Corporate insiders own 28.59% of the company’s stock.

Dropbox Stock Performance

Shares of DBX opened at $26.71 on Tuesday. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock’s fifty day moving average is $28.95 and its 200-day moving average is $28.11. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth 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 the consensus estimate of $0.62 by ($0.11). The company had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Dropbox 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.