Mitsubishi UFJ Trust & Banking Corp Sells 104,672 Shares of Dropbox, Inc. (NASDAQ:DBX)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBXFree Report) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 787,169 shares of the company’s stock after selling 104,672 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.23% of Dropbox worth $21,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Dropbox by 6.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,245,279 shares of the company’s stock worth $113,050,000 after acquiring an additional 257,648 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Dropbox by 1,287.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,725,139 shares of the company’s stock worth $74,206,000 after acquiring an additional 2,528,754 shares in the last quarter. Activest Wealth Management purchased a new stake in shares of Dropbox during the 3rd quarter worth approximately $98,000. Fox Run Management L.L.C. bought a new position in shares of Dropbox during the 3rd quarter valued at approximately $619,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Dropbox by 37.5% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 139,320 shares of the company’s stock valued at $3,794,000 after purchasing an additional 38,000 shares during the last quarter. 70.28% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Up 1.2 %

Shares of Dropbox stock opened at $33.16 on Monday. The stock’s fifty day moving average is $30.52 and its two-hundred day moving average is $28.38. The company has a market capitalization of $11.47 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 1.90 and a beta of 0.77. Dropbox, Inc. has a 52 week low of $18.71 and a 52 week high of $33.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group assumed coverage on Dropbox in a research report on Friday, December 15th. They set a “buy” rating and a $36.00 target price on the stock. KeyCorp boosted their target price on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Dropbox presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Check Out Our Latest Stock Analysis on Dropbox

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.41, for a total value of $88,230.00. Following the transaction, the chief financial officer now owns 453,761 shares of the company’s stock, valued at approximately $13,345,111.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.41, for a total transaction of $88,230.00. Following the completion of the sale, the chief financial officer now directly owns 453,761 shares in the company, valued at approximately $13,345,111.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bart Volkmer sold 7,055 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.37, for a total value of $207,205.35. Following the sale, the insider now owns 267,623 shares of the company’s stock, valued at $7,860,087.51. The disclosure for this sale can be found here. Insiders have sold 16,055 shares of company stock valued at $477,145 in the last quarter. 25.78% of the stock is owned by insiders.

Dropbox Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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