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

Amalgamated Bank reduced its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Dropbox during the third quarter worth approximately $28,000. Avion Wealth increased its stake in shares of Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after acquiring an additional 482 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings 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. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dropbox news, CEO Andrew Houston sold 137,499 shares of Dropbox stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $30.05, for a total value of $4,131,844.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $248,413,313.30. The trade was a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the sale, the chief financial officer now owns 403,764 shares of the company’s stock, valued at $11,971,602.60. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is currently owned by insiders.

Dropbox Price Performance

NASDAQ DBX opened at $25.98 on Friday. The stock has a market capitalization of $8.05 billion, a P/E ratio of 18.43, a PEG ratio of 1.70 and a beta of 0.61. The firm’s 50-day moving average is $30.61 and its two-hundred day moving average is $27.70. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

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

Wall Street Analyst Weigh In

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

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.