Victory Capital Management Inc. Grows Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Victory Capital Management Inc. boosted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 735,053 shares of the company’s stock after buying an additional 5,772 shares during the period. Victory Capital Management Inc.’s holdings in Dropbox were worth $18,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Dropbox in the 3rd quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new position in shares of Dropbox during the 3rd quarter valued at $31,000. GAMMA Investing LLC grew 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 in the last quarter. Fifth Third Bancorp grew its position in shares of Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after purchasing an additional 1,169 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Dropbox by 2,479.4% during the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,686 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Stock Performance

NASDAQ DBX opened at $26.38 on Tuesday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The company has a market capitalization of $8.17 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.72 and a beta of 0.61. The company has a fifty day moving average of $25.75 and a 200-day moving average of $23.89.

Analyst Upgrades and Downgrades

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

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 351,306 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total value of $8,824,806.72. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $207,658,649.92. The trade was a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy Regan sold 3,177 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $79,425.00. Following the completion of the sale, the chief financial officer now directly owns 481,747 shares of the company’s stock, valued at $12,043,675. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 459,952 shares of company stock valued at $11,544,337. Insiders own 26.40% of the company’s stock.

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.