BI Asset Management Fondsmaeglerselskab A S Sells 59,092 Shares of Dropbox, Inc. (NASDAQ:DBX)

BI Asset Management Fondsmaeglerselskab A S reduced its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 58.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 41,167 shares of the company's stock after selling 59,092 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Dropbox were worth $1,237,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 buying an additional 424 shares during the last quarter. Avion Wealth lifted its holdings in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox during the 4th quarter worth about $40,000. Allworth Financial LP boosted its holdings in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after acquiring an additional 365 shares during the period. Finally, Huntington National Bank increased its stake in shares of Dropbox by 768.9% during the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after purchasing an additional 1,361 shares during the period. Institutional investors own 94.84% of the company's stock.

Insider Transactions at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the firm'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 transaction, the insider now directly owns 309,550 shares of the company's stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $26.94, for a total transaction of $67,350.00. Following the sale, the chief financial officer now directly owns 565,068 shares of the company's stock, valued at approximately $15,222,931.92. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,765 shares of company stock valued at $393,695. 28.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group boosted their price target on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, January 6th.

Dropbox Price Performance

Dropbox stock traded down $0.20 during midday trading on Monday, hitting $28.38. The company's stock had a trading volume of 417,058 shares, compared to its average volume of 3,625,813. The company has a 50-day moving average price of $26.78 and a two-hundred day moving average price of $28.36. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

About Dropbox

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.