Quest Partners LLC Trims Stake in Dropbox, Inc. (NASDAQ:DBX)

Quest Partners LLC lowered its position in Dropbox, Inc. (NASDAQ:DBX) by 38.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in 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 purchased a new stake in shares of Dropbox in the 3rd quarter worth about $28,000. Fifth Third Bancorp increased its stake in shares of Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after acquiring an additional 1,169 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Dropbox during the 3rd quarter valued at about $31,000. Finally, Quarry LP lifted its position 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 acquiring an additional 880 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, CFO Timothy Regan sold 3,177 shares of the company’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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Cox sold 2,330 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the sale, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 464,782 shares of company stock worth $11,673,797 over the last 90 days. 26.40% of the stock is currently owned by insiders.

Dropbox Stock Performance

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

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.