Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,761 shares of the company’s stock after selling 7,049 shares during the period. Amalgamated Bank’s holdings in Dropbox were worth $2,691,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. 3Chopt Investment Partners LLC increased its stake in Dropbox by 5.6% in the first quarter. 3Chopt Investment Partners LLC now owns 127,365 shares of the company’s stock valued at $3,402,000 after purchasing an additional 6,781 shares during the last quarter. Graphene Investments SAS grew its position in shares of Dropbox by 16.4% in the 1st quarter. Graphene Investments SAS now owns 113,500 shares of the company’s stock valued at $3,032,000 after buying an additional 16,000 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in Dropbox during the 1st quarter worth $302,000. RHS Financial LLC raised its stake in Dropbox by 46.7% during the 1st quarter. RHS Financial LLC now owns 11,089 shares of the company’s stock worth $296,000 after acquiring an additional 3,531 shares in the last quarter. Finally, Optas LLC lifted its position in Dropbox by 33.3% in the first quarter. Optas LLC now owns 8,995 shares of the company’s stock valued at $240,000 after acquiring an additional 2,249 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

DBX has been the topic of several research reports. Citigroup raised their price objective on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. UBS Group lifted their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 9th.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $27.94, for a total transaction of $279,400.00. Following the sale, the chief financial officer directly owned 516,094 shares in the company, valued at approximately $14,419,666.36. The trade was a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Peacock sold 7,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total transaction of $199,710.00. Following the completion of the transaction, the director owned 25,295 shares of the company’s stock, valued at $721,666.35. This represents a 21.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 466,125 shares of company stock worth $13,222,405. 29.95% of the stock is currently owned by company insiders.

Dropbox Price Performance

Dropbox stock opened at $27.95 on Friday. The business has a 50 day simple moving average of $28.75 and a 200-day simple moving average of $28.78. Dropbox, Inc. has a 12 month low of $21.32 and a 12 month high of $33.33. The stock has a market capitalization of $7.87 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 11.01 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The business had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, equities research analysts anticipate 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.