Trustcore Financial Services LLC Has $180,000 Position in Dropbox Inc (NASDAQ:DBX)

Trustcore Financial Services LLC increased its stake in shares of Dropbox Inc (NASDAQ:DBX) by 378.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,180 shares of the company’s stock after purchasing an additional 5,680 shares during the quarter. Trustcore Financial Services LLC’s holdings in Dropbox were worth $180,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Deltec Asset Management LLC acquired a new stake in shares of Dropbox during the first quarter worth approximately $1,373,000. Norges Bank acquired a new stake in shares of Dropbox during the fourth quarter worth approximately $20,495,000. Exane Derivatives boosted its holdings in shares of Dropbox by 38.1% during the first quarter. Exane Derivatives now owns 8,424 shares of the company’s stock worth $184,000 after purchasing an additional 2,324 shares during the period. Spark Investment Management LLC boosted its holdings in shares of Dropbox by 14.3% during the first quarter. Spark Investment Management LLC now owns 1,512,400 shares of the company’s stock worth $32,970,000 after purchasing an additional 189,000 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Dropbox during the first quarter worth approximately $82,000. Institutional investors and hedge funds own 28.91% of the company’s stock.

In other news, CFO Ajay Vashee sold 13,731 shares of Dropbox stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $22.62, for a total value of $310,595.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert J. Mylod, Jr. sold 6,072 shares of Dropbox stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $22.53, for a total transaction of $136,802.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,092 shares of company stock worth $2,707,227. Insiders own 31.20% of the company’s stock.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, July 3rd. TheStreet upgraded shares of Dropbox from a “d+” rating to a “c-” rating in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.86.

DBX traded down $0.12 during midday trading on Tuesday, hitting $21.69. 67,780 shares of the company’s stock traded hands, compared to its average volume of 3,106,981. The stock has a market capitalization of $10.24 billion, a P/E ratio of -16.57 and a beta of 1.39. The company’s fifty day moving average price is $24.66. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. Dropbox Inc has a one year low of $18.50 and a one year high of $34.95.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.05. The firm had revenue of $385.60 million for the quarter, compared to analyst estimates of $381.58 million. Dropbox had a negative net margin of 1.85% and a negative return on equity of 3.50%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. On average, equities analysts forecast that Dropbox Inc will post -0.12 earnings per share for the current fiscal year.

Dropbox Company Profile

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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