Mirae Asset Global Investments Co. Ltd. Lowers Holdings in Dropbox, Inc. (NASDAQ:DBX)

Mirae Asset Global Investments Co. Ltd. lessened its position in Dropbox, Inc. (NASDAQ:DBX) by 34.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Dropbox in the third quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new position in Dropbox in the third quarter worth about $31,000. Fifth Third Bancorp lifted its stake in shares of Dropbox by 35.6% in the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after purchasing an additional 472 shares during the period. Quarry LP increased its holdings in Dropbox by 23.4% during the third quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after buying an additional 459 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Dropbox by 133.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after acquiring an additional 1,650 shares during the period. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price objective 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 analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dropbox currently has an average rating of “Hold” and a consensus price target of $27.50.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $27.17, for a total value of $67,925.00. Following the sale, the chief financial officer now directly owns 436,264 shares in the company, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Cox sold 2,330 shares of Dropbox stock in a transaction on 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 in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 905,068 shares of company stock valued at $26,809,655 in the last ninety days. Corporate insiders own 26.40% of the company’s stock.

Dropbox Stock Performance

Shares of DBX stock opened at $31.90 on Thursday. The stock has a 50 day moving average price of $30.59 and a 200 day moving average price of $27.13. The firm has a market capitalization of $9.88 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.64 and a beta of 0.61. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

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.