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

Amundi reduced its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 20.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 370,624 shares of the company's stock after selling 97,775 shares during the period. Amundi owned 0.12% of Dropbox worth $11,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after buying an additional 365 shares in the last quarter. Quarry LP raised its holdings in Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company's stock worth $62,000 after purchasing an additional 459 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock worth $305,000 after acquiring an additional 461 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock worth $54,000 after acquiring an additional 472 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock worth $52,000 after acquiring an additional 482 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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Dropbox Price Performance

Shares of NASDAQ DBX traded up $1.07 during mid-day trading on Friday, hitting $25.62. 3,736,357 shares of the company's stock traded hands, compared to its average volume of 3,416,287. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The company has a market capitalization of $7.73 billion, a P/E ratio of 18.17, a PEG ratio of 1.70 and a beta of 0.77. The company's 50-day moving average is $29.68 and its two-hundred day moving average is $27.88.

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

Insiders Place Their Bets

In related news, insider Eric Cox sold 3,765 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the sale, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 634,504 shares of company stock valued at $18,935,530. Insiders own 28.59% 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.