Dropbox, Inc. (NASDAQ:DBX) Stake Lessened by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 11.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 917,435 shares of the company's stock after selling 117,501 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.27% of Dropbox worth $27,046,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DBX. Baupost Group LLC MA lifted its position in Dropbox by 30.6% during the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company's stock valued at $245,777,000 after acquiring an additional 2,476,021 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Dropbox by 0.6% during the 1st quarter. Thrivent Financial for Lutherans now owns 4,523,209 shares of the company's stock valued at $97,792,000 after purchasing an additional 27,991 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Dropbox by 5.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company's stock valued at $120,327,000 after purchasing an additional 227,633 shares in the last quarter. First Trust Advisors LP increased its stake in Dropbox by 9.5% during the 1st quarter. First Trust Advisors LP now owns 3,782,752 shares of the company's stock valued at $81,783,000 after purchasing an additional 326,958 shares in the last quarter. Finally, Eaton Vance Management increased its stake in shares of Dropbox by 3.2% in the first quarter. Eaton Vance Management now owns 3,670,636 shares of the company's stock worth $85,342,000 after acquiring an additional 113,180 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Dropbox Trading Up 0.2 %

DBX traded up $0.04 during midday trading on Tuesday, hitting $23.32. 3,396,027 shares of the company traded hands, compared to its average volume of 4,076,334. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.62 and a beta of 0.71. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The business has a 50 day simple moving average of $26.23 and a two-hundred day simple moving average of $27.69.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $635.00 million for the quarter, compared to analysts' expectations of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. Equities research analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Analyst Ratings Changes

DBX has been the topic of a number of research reports. KeyCorp increased their price objective on shares of Dropbox from $32.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, January 19th. JMP Securities lowered shares of Dropbox from an "outperform" rating to a "market perform" rating in a research note on Friday, February 16th. UBS Group initiated coverage on shares of Dropbox in a research note on Friday, December 15th. They issued a "buy" rating and a $36.00 price objective on the stock. Bank of America lowered shares of Dropbox from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. lowered shares of Dropbox from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.78.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 3,000 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $24.36, for a total value of $73,080.00. Following the transaction, the chief financial officer now directly owns 400,720 shares of the company's stock, valued at $9,761,539.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $24.36, for a total transaction of $73,080.00. Following the transaction, the chief financial officer now directly owns 400,720 shares of the company's stock, valued at $9,761,539.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bart Volkmer sold 7,039 shares of Dropbox stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $24.02, for a total transaction of $169,076.78. Following the transaction, the insider now directly owns 233,988 shares in the company, valued at $5,620,391.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,039 shares of company stock valued at $4,324,757. Corporate insiders own 25.78% of the company's stock.

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.