Amalgamated Bank Sells 1,592 Shares of Dropbox, Inc. (NASDAQ:DBX)

Amalgamated Bank decreased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 200,248 shares of the company’s stock after selling 1,592 shares during the quarter. Amalgamated Bank owned approximately 0.06% of Dropbox worth $5,903,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its holdings in shares of Dropbox by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after buying an additional 415 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of Dropbox by 6.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock valued at $196,000 after purchasing an additional 417 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Dropbox by 2.7% during the third quarter. Daiwa Securities Group Inc. now owns 19,167 shares of the company’s stock valued at $522,000 after purchasing an additional 500 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Dropbox by 0.7% in the fourth quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock worth $2,103,000 after purchasing an additional 524 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Dropbox by 0.7% in the fourth quarter. Cerity Partners LLC now owns 79,052 shares of the company’s stock worth $2,330,000 after buying an additional 565 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Dropbox from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $34.00 to $28.00 in a research report on Friday, February 16th. Citigroup reduced their target price on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. The Goldman Sachs Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the company from $26.00 to $24.00 in a research report on Friday, February 16th. Finally, KeyCorp lifted their price target on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Dropbox has an average rating of “Hold” and an average target price of $29.78.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $23.37 on Monday. The business has a 50 day simple moving average of $23.76 and a two-hundred day simple moving average of $27.15. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The firm has a market capitalization of $8.04 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.62 and a beta of 0.70.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $635.00 million for the quarter, compared to the consensus estimate of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. Equities research analysts expect that Dropbox, Inc. will post 1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction on Monday, April 15th. The stock was sold at an average price of $23.11, for a total transaction of $69,330.00. Following the completion of the sale, the chief financial officer now directly owns 594,995 shares of the company’s stock, valued at approximately $13,750,334.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Dropbox news, insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.02, for a total transaction of $169,076.78. Following the completion of the sale, the insider now owns 233,988 shares in the company, valued at $5,620,391.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction on Monday, April 15th. The shares were sold at an average price of $23.11, for a total value of $69,330.00. Following the completion of the transaction, the chief financial officer now owns 594,995 shares in the company, valued at $13,750,334.45. The disclosure for this sale can be found here. Insiders have sold 271,721 shares of company stock worth $6,443,955 in the last three months. Corporate insiders own 26.40% of the company’s stock.

Dropbox 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.