Aurora Investment Counsel Trims Position in Dropbox, Inc. (NASDAQ:DBX)

Aurora Investment Counsel reduced its holdings in Dropbox, Inc. (NASDAQ:DBX) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,835 shares of the company’s stock after selling 410 shares during the period. Aurora Investment Counsel’s holdings in Dropbox were worth $1,167,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DBX. EverSource Wealth Advisors LLC grew its position in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares during the period. Avion Wealth grew its holdings in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Dropbox during the fourth quarter worth about $40,000. Allworth Financial LP raised its position in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after acquiring an additional 482 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their price objective 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.

Insiders Place Their Bets

In other news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the sale, the chief financial officer now owns 413,764 shares of the company’s stock, valued at $12,570,150.32. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 634,504 shares of company stock worth $18,935,530. Company insiders own 28.59% of the company’s stock.

Dropbox Stock Down 2.8 %

Shares of Dropbox stock opened at $24.55 on Friday. The firm has a market cap of $7.41 billion, a PE ratio of 17.41, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The business has a 50-day moving average price of $29.77 and a 200 day moving average price of $27.85.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS 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, sell-side analysts expect that Dropbox, Inc. will post 1.64 EPS for the current 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.