Quest Partners LLC Cuts Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Quest Partners LLC trimmed its stake in Dropbox, Inc. (NASDAQ:DBX) by 38.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,311 shares of the company’s stock after selling 6,499 shares during the period. Quest Partners LLC’s holdings in Dropbox were worth $262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after purchasing an additional 907 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Dropbox in the 3rd quarter worth approximately $28,000. Fifth Third Bancorp boosted its stake in Dropbox by 548.8% in the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Dropbox during the third quarter valued at approximately $31,000. Finally, Quarry LP raised its stake 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 acquiring an additional 880 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Houston sold 3,493 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $87,325.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 464,782 shares of company stock valued at $11,673,797 in the last quarter. Insiders own 26.40% of the company’s stock.

Dropbox Stock Performance

Shares of Dropbox stock opened at $28.37 on Wednesday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The company’s 50 day moving average price is $26.14 and its 200-day moving average price is $24.06. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 1.57 and a beta of 0.61.

Analysts Set New Price Targets

Separately, UBS Group reduced their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.