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

Advisors Asset Management Inc. lifted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 12.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 27,593 shares of the company’s stock after purchasing an additional 2,960 shares during the period. Advisors Asset Management Inc.’s holdings in Dropbox were worth $702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in Dropbox by 16.4% in the first quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after buying an additional 228,316 shares during the period. Tidal Investments LLC lifted its holdings in shares of Dropbox by 51.5% during the 1st quarter. Tidal Investments LLC now owns 12,804 shares of the company’s stock valued at $311,000 after acquiring an additional 4,350 shares in the last quarter. iA Global Asset Management Inc. boosted its position in Dropbox by 34.4% during the 1st quarter. iA Global Asset Management Inc. now owns 9,128 shares of the company’s stock worth $222,000 after purchasing an additional 2,335 shares during the period. Virtu Financial LLC acquired a new position in shares of Dropbox during the first quarter worth about $380,000. Finally, Swedbank AB acquired a new stake in shares of Dropbox in the first quarter valued at about $1,754,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Andrew Houston sold 3,493 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $206,666,650. This represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, November 15th. The stock was 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 approximately $11,853,292.88. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 464,782 shares of company stock worth $11,673,797. 26.40% of the stock is currently owned by insiders.

Dropbox Stock Performance

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

Wall Street Analyst Weigh In

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

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.