Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC raised its stake in Dropbox, Inc. (NASDAQ:DBX) by 21.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,537 shares of the company’s stock after acquiring an additional 16,917 shares during the period. Cerity Partners LLC’s holdings in Dropbox were worth $2,455,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DBX. GAMMA Investing LLC grew its stake in shares of Dropbox by 274.0% in the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Dropbox in the third quarter valued at $28,000. Fifth Third Bancorp lifted its holdings in shares of Dropbox by 548.8% during the second 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 during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Dropbox in the third quarter worth about $31,000. Finally, Quarry LP raised its stake in Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Stock Down 1.2 %

Shares of DBX stock opened at $27.66 on Monday. The company has a market cap of $8.57 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The business’s 50 day moving average is $26.42 and its two-hundred day moving average is $24.18.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.17, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Cox sold 2,330 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 464,782 shares of company stock valued at $11,673,797 in the last 90 days. 26.40% of the stock is currently owned by insiders.

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.