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

Amalgamated Bank trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 107,810 shares of the company’s stock after selling 7,004 shares during the period. Amalgamated Bank’s holdings in Dropbox were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP raised its position 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 acquiring an additional 365 shares in the last quarter. Quarry LP grew its stake in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after purchasing an additional 459 shares during the period. Aaron Wealth Advisors LLC increased its holdings in shares of Dropbox by 4.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock valued at $305,000 after purchasing an additional 461 shares in the last quarter. Fifth Third Bancorp lifted 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 valued at $54,000 after purchasing an additional 472 shares during the period. Finally, V Square Quantitative Management LLC lifted 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 valued at $52,000 after purchasing an additional 482 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Stock Up 0.1 %

Shares of DBX stock opened at $25.98 on Friday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The business has a fifty day simple moving average of $30.61 and a 200-day simple moving average of $27.70. The stock has a market cap of $8.05 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.70 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. This represents a 0.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 80,499 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is owned by corporate insiders.

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.