BI Asset Management Fondsmaeglerselskab A S Has $285,000 Stock Position in Dropbox, Inc. (NASDAQ:DBX)

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 89.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,708 shares of the company’s stock after selling 95,157 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Dropbox were worth $285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in Dropbox during the fourth quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new position in Dropbox during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC acquired a new stake in Dropbox in the first quarter valued at approximately $28,000. Principal Securities Inc. bought a new stake in Dropbox in the fourth quarter worth approximately $34,000. Finally, Avalon Trust Co acquired a new position in shares of Dropbox during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $23.11, for a total value of $69,330.00. Following the transaction, the chief financial officer now owns 594,995 shares of the company’s stock, valued at $13,750,334.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total value of $1,922,080.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $193,770,651.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,218 shares of company stock valued at $6,661,709. 26.40% of the stock is currently owned by insiders.

Dropbox Trading Up 2.1 %

DBX opened at $22.32 on Friday. The stock’s 50 day simple moving average is $22.45 and its 200-day simple moving average is $25.38. The stock has a market cap of $7.37 billion, a PE ratio of 14.78, a P/E/G ratio of 1.52 and a beta of 0.65. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.13. The firm had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. Equities analysts forecast that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup lowered their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.56.

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.