Joel Isaacson & Co. LLC decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX – Get Rating) by 15.1% in the 1st quarter, HoldingsChannel reports. The firm owned 28,118 shares of the company’s stock after selling 5,000 shares during the period. Joel Isaacson & Co. LLC’s holdings in Dropbox were worth $640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in DBX. IFM Investors Pty Ltd increased its position in Dropbox by 2.0% during the 4th quarter. IFM Investors Pty Ltd now owns 41,076 shares of the company’s stock worth $1,008,000 after buying an additional 799 shares during the period. Xponance Inc. increased its position in Dropbox by 2.5% during the 1st quarter. Xponance Inc. now owns 34,379 shares of the company’s stock worth $799,000 after buying an additional 831 shares during the period. Waterfront Wealth Inc. increased its position in shares of Dropbox by 6.2% in the fourth quarter. Waterfront Wealth Inc. now owns 16,084 shares of the company’s stock worth $395,000 after purchasing an additional 935 shares during the period. Spire Wealth Management increased its position in shares of Dropbox by 112.7% in the first quarter. Spire Wealth Management now owns 1,808 shares of the company’s stock worth $42,000 after purchasing an additional 958 shares during the period. Finally, Impax Asset Management Group plc increased its position in shares of Dropbox by 10.0% in the fourth quarter. Impax Asset Management Group plc now owns 10,939 shares of the company’s stock worth $268,000 after purchasing an additional 992 shares during the period. 61.40% of the stock is owned by institutional investors and hedge funds.
Separately, Jefferies Financial Group decreased their target price on Dropbox from $35.00 to $30.00 in a research report on Monday, May 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.
Dropbox stock traded up $0.59 during mid-day trading on Friday, reaching $21.58. The company had a trading volume of 21,757 shares, compared to its average volume of 3,726,626. Dropbox, Inc. has a fifty-two week low of $19.07 and a fifty-two week high of $33.00. The company has a market cap of $8.11 billion, a P/E ratio of 22.33 and a beta of 0.89. The business has a fifty day simple moving average of $21.24 and a 200 day simple moving average of $22.68.
Dropbox (NASDAQ:DBX – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $562.40 million for the quarter, compared to analyst estimates of $559.09 million. Dropbox had a net margin of 16.66% and a negative return on equity of 146.35%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. Sell-side analysts predict that Dropbox, Inc. will post 0.88 earnings per share for the current fiscal year.
Dropbox Company Profile (Get Rating)
Dropbox, Inc provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users.
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