Carret Asset Management LLC Decreases Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Carret Asset Management LLC lowered its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 25.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,292 shares of the company’s stock after selling 4,300 shares during the period. Carret Asset Management LLC’s holdings in Dropbox were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. grew its stake in shares of Dropbox by 5.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock worth $120,327,000 after acquiring an additional 227,633 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Dropbox by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,891,618 shares of the company’s stock valued at $78,739,000 after purchasing an additional 15,569 shares during the period. Nordea Investment Management AB increased its stake in Dropbox by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 2,228,624 shares of the company’s stock valued at $65,934,000 after purchasing an additional 81,729 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Dropbox by 65.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after acquiring an additional 869,043 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Dropbox by 41.8% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,745,782 shares of the company’s stock worth $47,538,000 after acquiring an additional 514,898 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Buying and Selling

In related news, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $197,242,650.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the transaction, the insider now owns 233,988 shares of the company’s stock, valued at $5,620,391.76. The disclosure for this sale can be found here. In the last three months, insiders sold 189,721 shares of company stock valued at $4,548,575. Company insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DBX shares. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. KeyCorp increased their price objective on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Citigroup lowered their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $30.00 in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.78.

Dropbox Stock Down 0.9 %

Shares of DBX stock traded down $0.22 during trading hours on Thursday, reaching $23.80. 704,665 shares of the stock traded hands, compared to its average volume of 3,877,360. Dropbox, Inc. has a 1-year low of $19.55 and a 1-year high of $33.43. The business has a fifty day moving average price of $24.00 and a 200 day moving average price of $27.35. The firm has a market capitalization of $8.19 billion, a PE ratio of 18.20, a PEG ratio of 2.64 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $635.00 million for the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. Research analysts expect that Dropbox, Inc. will post 1.14 earnings per share 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.