Dropbox, Inc. (NASDAQ:DBX) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 34.8% in the 4th quarter, HoldingsChannel reports. The firm owned 474,790 shares of the company’s stock after selling 252,959 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Dropbox were worth $14,263,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after acquiring an additional 1,440,887 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Dropbox by 291.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company’s stock valued at $54,007,000 after acquiring an additional 1,338,234 shares during the last quarter. LSV Asset Management increased its stake in shares of Dropbox by 24.0% during the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock valued at $193,641,000 after acquiring an additional 1,245,563 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Dropbox during the 4th quarter valued at about $25,375,000. Finally, Norges Bank acquired a new position in shares of Dropbox during the 4th quarter valued at about $20,482,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

DBX has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. UBS Group upped their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 9th.

Dropbox Stock Performance

DBX opened at $29.46 on Friday. The firm has a 50 day moving average price of $27.36 and a 200 day moving average price of $28.63. The company has a market cap of $8.89 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. On average, sell-side analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $28.29, for a total value of $70,725.00. Following the completion of the transaction, the chief financial officer now owns 562,568 shares in the company, valued at $15,915,048.72. This represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Cox sold 3,765 shares of the company’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 completion of the transaction, the insider now owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,265 shares of company stock valued at $303,520. 29.95% of the stock is currently owned by corporate insiders.

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.