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

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,436 shares of the company’s stock after selling 1,289 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Dropbox were worth $622,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in DBX. SG Americas Securities LLC bought a new position in Dropbox during the 1st quarter worth approximately $647,000. Intech Investment Management LLC raised its position in shares of Dropbox by 185.2% during the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company’s stock valued at $4,521,000 after acquiring an additional 97,725 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Dropbox by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company’s stock valued at $832,000 after acquiring an additional 1,131 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Dropbox during the fourth quarter worth $25,375,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Dropbox by 8.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,761,252 shares of the company’s stock worth $52,908,000 after purchasing an additional 137,916 shares during the period. Institutional investors own 94.84% of the company’s stock.

Insider Activity

In related news, insider William T. Yoon sold 5,449 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $157,694.06. Following the sale, the insider directly owned 245,837 shares in the company, valued at $7,114,522.78. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Peacock sold 7,000 shares of Dropbox stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total value of $199,710.00. Following the sale, the director directly owned 25,295 shares in the company, valued at $721,666.35. The trade was a 21.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 466,125 shares of company stock worth $13,222,405 over the last three months. Insiders own 29.95% of the company’s stock.

Analyst Upgrades and Downgrades

DBX has been the topic of a number of research reports. Citigroup increased their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. UBS Group boosted their price objective 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.

Dropbox Trading Up 1.5%

Shares of NASDAQ DBX opened at $27.95 on Friday. Dropbox, Inc. has a 12-month low of $21.32 and a 12-month high of $33.33. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 11.01 and a beta of 0.65. The stock’s 50 day simple moving average is $28.75 and its 200 day simple moving average is $28.78.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The firm had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. During the same period last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Dropbox 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.