CWA Asset Management Group LLC Invests $3.21 Million in Dropbox, Inc. (NASDAQ:DBX)

CWA Asset Management Group LLC purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 106,677 shares of the company’s stock, valued at approximately $3,205,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. QRG Capital Management Inc. grew its stake in Dropbox by 10.6% in the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after purchasing an additional 21,190 shares during the period. Aigen Investment Management LP bought a new position in Dropbox during the third quarter valued at about $482,000. Retirement Systems of Alabama increased its holdings in Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after buying an additional 124,528 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after acquiring an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after acquiring an additional 134,503 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.18, for a total value of $65,450.00. Following the sale, the chief financial officer now directly owns 466,747 shares of the company’s stock, valued at approximately $12,219,436.46. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 792,152 shares of company stock valued at $23,309,897 in the last 90 days. 26.40% of the stock is currently owned by company insiders.

Dropbox Stock Up 0.2 %

NASDAQ DBX opened at $30.07 on Tuesday. The company’s 50 day moving average is $28.59 and its 200-day moving average is $25.57. The firm has a market cap of $9.31 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their price target on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.86.

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.