Amundi Sells 97,775 Shares of Dropbox, Inc. (NASDAQ:DBX)

Amundi lowered its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,624 shares of the company's stock after selling 97,775 shares during the period. Amundi owned approximately 0.12% of Dropbox worth $11,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Dropbox during the 3rd quarter valued at about $11,687,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company's stock valued at $158,670,000 after buying an additional 365,893 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company's stock valued at $198,065,000 after buying an additional 333,245 shares in the last quarter. Algert Global LLC raised its holdings in shares of Dropbox by 414.9% during the 3rd quarter. Algert Global LLC now owns 365,832 shares of the company's stock valued at $9,303,000 after buying an additional 294,780 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company's stock valued at $71,108,000 after buying an additional 228,685 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

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Analysts Set New Price Targets

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

Dropbox Stock Performance

DBX traded up $1.07 on Friday, hitting $25.62. 3,736,357 shares of the company were exchanged, compared to its average volume of 3,442,220. The firm has a fifty day simple moving average of $29.68 and a two-hundred day simple moving average of $27.86. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The stock has a market capitalization of $7.73 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly 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). 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 the consensus estimate of $638.61 million. On average, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Transactions at Dropbox

In other news, CEO Andrew Houston sold 500,323 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the transaction, the chief financial officer now owns 413,764 shares of the company's stock, valued at approximately $12,570,150.32. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 634,504 shares of company stock worth $18,935,530. 28.59% of the stock is currently owned by insiders.

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.