Mirae Asset Global Investments Co. Ltd. Sells 13,241 Shares of Dropbox, Inc. (NASDAQ:DBX)

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 34.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,725 shares of the company's stock after selling 13,241 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Dropbox were worth $755,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DBX. Capital Performance Advisors LLP bought a new stake in Dropbox in the third quarter valued at about $28,000. V Square Quantitative Management LLC bought a new stake in Dropbox in the third quarter valued at about $31,000. Fifth Third Bancorp increased its holdings in Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock valued at $54,000 after purchasing an additional 472 shares during the last quarter. Quarry LP increased its holdings in Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company's stock valued at $62,000 after purchasing an additional 459 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Dropbox by 133.3% in the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company's stock valued at $73,000 after purchasing an additional 1,650 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Price Performance

Shares of Dropbox stock traded up $0.29 during trading hours on Friday, hitting $32.78. The company's stock had a trading volume of 2,410,565 shares, compared to its average volume of 2,490,581. The company has a market capitalization of $10.15 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The stock has a 50 day moving average of $30.80 and a 200 day moving average of $27.30. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Insider Transactions at Dropbox

In other news, insider Eric Cox sold 2,330 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares of the company's stock, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the 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 transaction, the chief financial officer now directly owns 413,764 shares of the company's stock, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 902,568 shares of company stock valued at $26,741,730 over the last three months. Company insiders own 26.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price target on Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Dropbox presently has an average rating of "Hold" and an average target price of $27.50.

Dropbox Company 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.