Exchange Traded Concepts LLC Has $3.76 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Exchange Traded Concepts LLC raised its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 291.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,991 shares of the company’s stock after acquiring an additional 93,058 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Dropbox were worth $3,755,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in Dropbox in the fourth quarter valued at about $656,000. Nisa Investment Advisors LLC boosted its holdings in shares of Dropbox by 10.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,389 shares of the company’s stock worth $162,000 after acquiring an additional 490 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in 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 during the last quarter. Empirical Asset Management LLC acquired a new stake in Dropbox during the 4th quarter valued at $229,000. Finally, Oak Thistle LLC raised its position in Dropbox by 70.4% in the 4th quarter. Oak Thistle LLC now owns 32,249 shares of the company’s stock valued at $969,000 after purchasing an additional 13,320 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Activity at Dropbox

In related news, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now owns 321,871 shares in the company, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 80,499 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 902,568 shares of company stock valued at $26,713,030. Corporate insiders own 26.40% of the company’s stock.

Dropbox Stock Performance

NASDAQ DBX opened at $31.48 on Friday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The business has a 50 day simple moving average of $29.52 and a 200 day simple moving average of $26.34. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.58 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The firm had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same quarter last year, the firm earned $0.35 earnings per share. On average, analysts predict that Dropbox, Inc. will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

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. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Dropbox currently has a consensus rating of “Hold” and a consensus price target of $27.50.

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.