MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 34.8% during the fourth quarter, according to its most recent filing with the SEC. 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. owned 0.15% of Dropbox worth $14,263,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of DBX. LSV Asset Management lifted its position 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 period. Arrowstreet Capital Limited Partnership lifted its position 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 period. AQR Capital Management LLC lifted its position in shares of Dropbox by 3.0% during the 4th quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company's stock valued at $99,842,000 after acquiring an additional 97,551 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock valued at $87,537,000 after acquiring an additional 117,767 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Dropbox by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company's stock valued at $79,505,000 after acquiring an additional 82,284 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup boosted their price target 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.
Read Our Latest Stock Report on DBX
Dropbox Price Performance
Shares of NASDAQ DBX traded up $0.11 during trading on Wednesday, hitting $28.78. The stock had a trading volume of 774,558 shares, compared to its average volume of 3,603,350. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The company has a market capitalization of $8.10 billion, a PE ratio of 20.41, a PEG ratio of 1.70 and a beta of 0.68. The firm has a fifty day moving average of $27.58 and a two-hundred day moving average of $28.70.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. During the same quarter in the prior year, the business posted $0.58 EPS. The business's revenue was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.
Insider Transactions at Dropbox
In related news, insider Eric Cox sold 3,765 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the transaction, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lisa M. Campbell sold 5,239 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.94, for a total transaction of $151,616.66. Following the transaction, the director now owns 19,220 shares of the company's stock, valued at approximately $556,226.80. The trade was a 21.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,792 shares of company stock worth $754,346 in the last quarter. 29.95% of the stock is currently owned by corporate insiders.
About Dropbox
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Free Report)
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.
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