Sequoia Financial Advisors LLC Boosts Stock Position in Dropbox, Inc. $DBX

Sequoia Financial Advisors LLC lifted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 369.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,393 shares of the company’s stock after acquiring an additional 37,302 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Dropbox were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DBX. Resona Asset Management Co. Ltd. boosted its holdings in Dropbox by 96.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 29,775 shares of the company’s stock valued at $676,000 after acquiring an additional 14,652 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Dropbox by 3.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 35,780 shares of the company’s stock worth $813,000 after purchasing an additional 1,090 shares in the last quarter. DGS Capital Management LLC raised its holdings in Dropbox by 64.7% in the 1st quarter. DGS Capital Management LLC now owns 56,603 shares of the company’s stock worth $1,286,000 after purchasing an additional 22,243 shares in the last quarter. AdvisorShares Investments LLC lifted its position in shares of Dropbox by 8.6% in the 1st quarter. AdvisorShares Investments LLC now owns 19,000 shares of the company’s stock worth $432,000 after purchasing an additional 1,500 shares during the period. Finally, Optas LLC lifted its position in shares of Dropbox by 16.1% in the 1st quarter. Optas LLC now owns 11,337 shares of the company’s stock worth $258,000 after purchasing an additional 1,575 shares during the period. Institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

DBX has been the topic of several research reports. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. William Blair reissued an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Finally, Citigroup lifted their target price on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Dropbox currently has an average rating of “Reduce” and a consensus target price of $27.00.

Insider Buying and Selling

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $27.11, for a total transaction of $35,378.55. Following the completion of the sale, the chief accounting officer directly owned 127,204 shares of the company’s stock, valued at $3,448,500.44. The trade was a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Houston sold 30,332 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.50, for a total transaction of $834,130.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 129,082 shares of company stock worth $3,489,910 over the last three months. 35.48% of the stock is currently owned by company insiders.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $30.62 on Friday. The company has a market capitalization of $7.14 billion, a P/E ratio of 16.73, a P/E/G ratio of 3.33 and a beta of 0.66. The firm’s 50 day simple moving average is $27.55 and its two-hundred day simple moving average is $25.97. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. During the same period last year, the firm posted $0.70 EPS. The company’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Dropbox Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.