Swiss National Bank Sells 20,100 Shares of Dropbox, Inc. (NASDAQ:DBX)

Swiss National Bank cut its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 472,500 shares of the company’s stock after selling 20,100 shares during the period. Swiss National Bank’s holdings in Dropbox were worth $12,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after buying an additional 506,200 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Dropbox by 63.0% during the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after acquiring an additional 2,881,981 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Dropbox by 0.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock valued at $113,485,000 after purchasing an additional 32,600 shares during the period. LSV Asset Management increased its stake in Dropbox by 9.2% in the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after purchasing an additional 314,862 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after purchasing an additional 859,233 shares during the period. Institutional investors own 94.84% of the company’s stock.

Dropbox Stock Up 1.3 %

Shares of DBX stock opened at $27.99 on Friday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a fifty day moving average of $26.07 and a 200-day moving average of $24.01. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 1.55 and a beta of 0.61.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their price objective 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.67.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $27.17, for a total transaction of $67,925.00. Following the completion of the transaction, the chief financial officer now directly owns 436,264 shares of the company’s stock, valued at $11,853,292.88. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 321,871 shares in the company, valued at approximately $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 90 days, insiders sold 464,782 shares of company stock worth $11,673,797. Corporate insiders own 26.40% of the company’s stock.

Dropbox Company 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.