WCG Wealth Advisors LLC raised its holdings in shares of Dropbox, Inc. (NASDAQ:DBX – Free Report) by 106.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,478 shares of the company’s stock after purchasing an additional 20,398 shares during the period. WCG Wealth Advisors LLC’s holdings in Dropbox were worth $1,097,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. LSV Asset Management increased its position in shares of Dropbox by 1.1% during the fourth quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock worth $326,251,000 after purchasing an additional 121,999 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Dropbox by 2.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 6,806,508 shares of the company’s stock valued at $205,625,000 after acquiring an additional 144,347 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Dropbox by 1.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after acquiring an additional 70,867 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Dropbox by 22.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after acquiring an additional 463,258 shares during the period. Finally, Norges Bank acquired a new position in shares of Dropbox in the 4th quarter valued at $69,909,000. 94.84% of the stock is owned by institutional investors and hedge funds.
Dropbox Stock Performance
NASDAQ:DBX opened at $27.52 on Friday. Dropbox, Inc. has a one year low of $21.69 and a one year high of $32.40. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 2.98 and a beta of 0.67. The firm’s fifty day moving average is $25.11 and its two-hundred day moving average is $26.19.
Insider Buying and Selling
In other Dropbox news, CEO Andrew Houston sold 30,332 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $27.50, for a total value of $834,130.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ashraf Alkarmi sold 22,700 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $27.86, for a total transaction of $632,422.00. Following the completion of the sale, the chief executive officer directly owned 1,080,746 shares in the company, valued at approximately $30,109,583.56. The trade was a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 239,883 shares of company stock valued at $6,006,972 in the last 90 days. 35.48% of the stock is currently owned by insiders.
Analysts Set New Price Targets
DBX has been the topic of several research reports. William Blair reissued an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, UBS Group cut their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $27.00.
View Our Latest Stock Analysis on Dropbox
Dropbox Company Profile
Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.
At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.
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