AXS Investments LLC Invests $295,000 in Dropbox, Inc. (NASDAQ:DBX)

AXS Investments LLC bought a new stake in Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $295,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. increased its stake in Dropbox by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after purchasing an additional 415 shares during the period. iA Global Asset Management Inc. increased its stake in Dropbox by 6.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after buying an additional 417 shares during the period. Arizona State Retirement System lifted its holdings in Dropbox by 0.7% during the 4th quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock worth $2,103,000 after buying an additional 524 shares in the last quarter. Cerity Partners LLC lifted its holdings in Dropbox by 0.7% during the 4th quarter. Cerity Partners LLC now owns 79,052 shares of the company’s stock worth $2,330,000 after buying an additional 565 shares in the last quarter. Finally, Truist Financial Corp boosted its position in Dropbox by 1.8% in the 4th quarter. Truist Financial Corp now owns 42,999 shares of the company’s stock valued at $1,268,000 after buying an additional 769 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group lowered Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. JMP Securities lowered Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. cut Dropbox from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $33.00 to $30.00 in a research note on Friday, February 16th. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and cut their target price for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. Finally, Citigroup decreased their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.78.

Dropbox Trading Down 1.2 %

Shares of NASDAQ:DBX opened at $22.89 on Friday. The firm has a 50 day simple moving average of $23.63 and a 200-day simple moving average of $26.84. Dropbox, Inc. has a twelve month low of $22.06 and a twelve month high of $33.43. The company has a market capitalization of $7.56 billion, a PE ratio of 15.16, a P/E/G ratio of 1.59 and a beta of 0.70.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The firm had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. As a group, equities research analysts predict that Dropbox, Inc. will post 1.26 EPS for the current fiscal year.

Insider Transactions at Dropbox

In related news, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total value of $1,922,080.00. 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 $193,770,651.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $23.60, for a total transaction of $70,800.00. Following the transaction, the chief financial officer now directly owns 591,995 shares of the company’s stock, valued at approximately $13,971,082. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 82,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $193,770,651.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 271,721 shares of company stock worth $6,443,955. Corporate insiders own 26.40% of the company’s stock.

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.