Dropbox, Inc. $DBX Shares Purchased by Amundi

Key Points

• Amundi increased its stake in Dropbox, Inc. by 19.8% during Q1, owning approximately 0.15% of the company, worth around $11.9 million.
• In recent trading, Dropbox's stock opened at $31.20, with a 12-month range between $23.25 and $33.33 and a market cap of $8.42 billion.
• Analysts currently have a consensus rating of "Hold" for Dropbox, with a decreased average price target of $30.33.

Amundi increased its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 19.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 444,100 shares of the company's stock after buying an additional 73,476 shares during the quarter. Amundi owned about 0.15% of Dropbox worth $11,915,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. acquired a new stake in Dropbox during the fourth quarter worth $9,189,000. Focus Partners Wealth acquired a new stake in Dropbox during the fourth quarter worth $219,000. Gotham Asset Management LLC increased its stake in Dropbox by 5.1% during the fourth quarter. Gotham Asset Management LLC now owns 265,927 shares of the company's stock worth $7,988,000 after acquiring an additional 12,814 shares during the last quarter. Janus Henderson Group PLC increased its stake in Dropbox by 3.0% during the fourth quarter. Janus Henderson Group PLC now owns 267,014 shares of the company's stock worth $8,022,000 after acquiring an additional 7,662 shares during the last quarter. Finally, Mubadala Investment Co PJSC acquired a new stake in Dropbox during the fourth quarter worth $2,456,000. Hedge funds and other institutional investors own 94.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Karen Peacock sold 2,000 shares of Dropbox stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the sale, the director directly owned 23,295 shares of the company's stock, valued at approximately $698,850. The trade was a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William T. Yoon sold 11,430 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.16, for a total value of $344,728.80. Following the transaction, the insider directly owned 223,662 shares of the company's stock, valued at $6,745,645.92. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 314,333 shares of company stock valued at $8,938,399. Insiders own 29.95% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DBX. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group cut their target price on Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.33.

Dropbox Stock Performance

Shares of NASDAQ DBX traded up $0.96 during trading on Monday, reaching $31.87. The stock had a trading volume of 3,306,444 shares, compared to its average volume of 2,996,801. Dropbox, Inc. has a fifty-two week low of $24.25 and a fifty-two week high of $33.33. The business's 50-day moving average price is $28.14 and its 200-day moving average price is $27.89. The company has a market cap of $8.60 billion, a P/E ratio of 19.43, a PEG ratio of 4.09 and a beta of 0.70.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The business had revenue of $625.70 million during the quarter, compared to analysts' expectations of $618.60 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The company's revenue was down 1.4% on a year-over-year basis. Analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.