Advisors Asset Management Inc. Raises Holdings in Dropbox, Inc. (NASDAQ:DBX)

Advisors Asset Management Inc. lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 12.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,593 shares of the company’s stock after acquiring an additional 2,960 shares during the period. Advisors Asset Management Inc.’s holdings in Dropbox were worth $702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of DBX. GAMMA Investing LLC raised its position in Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after acquiring an additional 907 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Dropbox during the third quarter valued at $28,000. Fifth Third Bancorp boosted its holdings in Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Dropbox during the third quarter worth approximately $31,000. Finally, Quarry LP grew its holdings in shares of Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after buying an additional 880 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Stock Down 0.5 %

Shares of NASDAQ DBX opened at $28.37 on Wednesday. The stock has a market cap of $8.79 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.57 and a beta of 0.61. The business has a 50-day moving average price of $26.14 and a 200 day moving average price of $24.06. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the transaction, the chief financial officer now owns 485,724 shares in the company, valued at approximately $11,827,379.40. The trade was a 0.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,782 shares of company stock worth $11,673,797. 26.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, UBS Group dropped their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Dropbox presently has an average rating of “Hold” and an average price target of $28.67.

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.