MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Stock Position in Dropbox, Inc. (NASDAQ:DBX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its holdings in Dropbox, Inc. (NASDAQ:DBX) by 34.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 474,790 shares of the company’s stock after selling 252,959 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.15% of Dropbox worth $14,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth raised its holdings in Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Dropbox in the fourth quarter valued at approximately $40,000. Allworth Financial LP raised its holdings in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares in the last quarter. Finally, Huntington National Bank raised its holdings in Dropbox by 768.9% in the fourth quarter. Huntington National Bank now owns 1,538 shares of the company’s stock valued at $46,000 after acquiring an additional 1,361 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insiders Place Their Bets

In related news, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the sale, the chief financial officer now owns 367,791 shares in the company, valued at $9,772,206.87. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,265 shares of company stock worth $303,520. Corporate insiders own 29.95% of the company’s stock.

Dropbox Price Performance

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

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Dropbox’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. As a group, analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DBX. UBS Group raised their target price on shares of Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 9th. Citigroup raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, May 9th.

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.