Intech Investment Management LLC Lowers Position in Dropbox, Inc. (NASDAQ:DBX)

Intech Investment Management LLC decreased its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 45.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,763 shares of the company’s stock after selling 44,374 shares during the period. Intech Investment Management LLC’s holdings in Dropbox were worth $1,342,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. QRG Capital Management Inc. increased its stake in Dropbox by 10.6% during the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after acquiring an additional 21,190 shares during the last quarter. Lakewood Asset Management LLC acquired a new stake in Dropbox during the 2nd quarter worth approximately $797,000. Aigen Investment Management LP purchased a new position in Dropbox in the third quarter valued at approximately $482,000. Janus Henderson Group PLC lifted its position in Dropbox by 16.4% during 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Dropbox by 6.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after buying an additional 134,503 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, UBS Group cut their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two investment 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’s stock. According to data from MarketBeat, Dropbox has an average rating of “Hold” and an average price target of $28.67.

Dropbox Trading Down 0.5 %

NASDAQ DBX opened at $28.37 on Wednesday. The stock has a market cap of $8.79 billion, a P/E ratio of 16.40, a PEG ratio of 1.57 and a beta of 0.61. The company’s fifty day simple moving average is $26.14 and its 200-day simple moving average is $24.06. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 3,493 shares of the 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 completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $206,666,650. This represents a 0.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 3,177 shares of Dropbox 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 completion of the sale, the chief financial officer now owns 481,747 shares of the company’s stock, valued at approximately $12,043,675. This trade represents a 0.66 % decrease in their position. 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 quarter. Company insiders own 26.40% of the company’s stock.

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.