BI Asset Management Fondsmaeglerselskab A S Sells 59,092 Shares of Dropbox, Inc. (NASDAQ:DBX)

BI Asset Management Fondsmaeglerselskab A S reduced its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 58.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,167 shares of the company's stock after selling 59,092 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Dropbox were worth $1,237,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DBX. Dimensional Fund Advisors LP boosted its holdings in Dropbox by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company's stock valued at $79,505,000 after purchasing an additional 82,284 shares during the period. First Trust Advisors LP grew its position in Dropbox by 12.2% during the fourth quarter. First Trust Advisors LP now owns 2,415,093 shares of the company's stock worth $72,549,000 after buying an additional 262,871 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Dropbox by 14.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 950,500 shares of the company's stock worth $28,553,000 after acquiring an additional 120,300 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of Dropbox in the 4th quarter valued at about $5,077,000. Finally, Bridgewater Associates LP boosted its position in shares of Dropbox by 39.7% during the 4th quarter. Bridgewater Associates LP now owns 981,914 shares of the company's stock valued at $29,497,000 after acquiring an additional 278,902 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upped their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, January 6th.

Insiders Place Their Bets

In other news, insider Eric Cox sold 3,765 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares of the company's stock, valued at $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the transaction, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,765 shares of company stock worth $393,695 over the last quarter. 28.59% of the stock is currently owned by corporate insiders.

Dropbox Stock Up 2.7 %

NASDAQ DBX opened at $27.38 on Wednesday. The stock's 50-day simple moving average is $27.07 and its two-hundred day simple moving average is $28.29. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal 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.

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