Venturi Wealth Management LLC Grows Holdings in Dropbox, Inc. (NASDAQ:DBX)

Venturi Wealth Management LLC lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 43.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,818 shares of the company’s stock after buying an additional 1,149 shares during the quarter. Venturi Wealth Management LLC’s holdings in Dropbox were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Dropbox during the third quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of Dropbox in the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC raised its position in shares of Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after acquiring an additional 907 shares in the last quarter. Fifth Third Bancorp lifted its stake in Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after purchasing an additional 1,169 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,686 shares during the period. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 3,177 shares of the firm’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 approximately $12,043,675. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 351,306 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $207,658,649.92. The trade was a 4.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 459,952 shares of company stock valued at $11,544,337 in the last quarter. Company insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their target price 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.67.

Dropbox Stock Performance

DBX stock opened at $27.67 on Friday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.78 and a beta of 0.61. The stock’s fifty day moving average is $25.59 and its two-hundred day moving average is $23.84.

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.