Trustcore Financial Services LLC decreased its stake in shares of Dropbox Inc (NASDAQ:DBX) by 65.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,610 shares of the company’s stock after selling 3,000 shares during the quarter. Trustcore Financial Services LLC’s holdings in Dropbox were worth $33,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in DBX. Quantamental Technologies LLC purchased a new position in Dropbox during the 4th quarter valued at about $33,000. Capital Investment Advisory Services LLC purchased a new position in Dropbox during the 4th quarter valued at about $57,000. First Interstate Bank purchased a new position in Dropbox during the 4th quarter valued at about $82,000. First Hawaiian Bank purchased a new position in Dropbox during the 3rd quarter valued at about $118,000. Finally, Exane Derivatives increased its position in Dropbox by 134.6% during the 4th quarter. Exane Derivatives now owns 6,100 shares of the company’s stock valued at $125,000 after purchasing an additional 3,500 shares during the period. Institutional investors own 21.58% of the company’s stock.
NASDAQ:DBX traded up $0.33 during trading hours on Tuesday, hitting $25.48. 12,947 shares of the company were exchanged, compared to its average volume of 2,025,057. Dropbox Inc has a 52-week low of $18.50 and a 52-week high of $43.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.43.
A number of research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. William Blair assumed coverage on shares of Dropbox in a research report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Zacks Investment Research downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, Canaccord Genuity cut their price objective on shares of Dropbox from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, November 9th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.93.
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Dropbox Company Profile
Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.
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