Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 34.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,725 shares of the company’s stock after selling 13,241 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Dropbox were worth $755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. QRG Capital Management Inc. increased its holdings in Dropbox by 10.6% in the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after acquiring an additional 21,190 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Dropbox during the third quarter valued at approximately $482,000. Retirement Systems of Alabama boosted its stake in shares of Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after acquiring an additional 124,528 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Dropbox by 8.9% in 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 purchasing an additional 228,685 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Dropbox by 6.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after purchasing an additional 134,503 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

Dropbox stock opened at $31.90 on Thursday. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company’s 50 day simple moving average is $30.59 and its 200-day simple moving average is $27.13. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33.

Insider Activity

In other Dropbox news, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction 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. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the sale, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 905,068 shares of company stock valued at $26,809,655. 26.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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 research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.50.

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.