CWA Asset Management Group LLC Buys Shares of 106,677 Dropbox, Inc. (NASDAQ:DBX)

CWA Asset Management Group LLC acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 106,677 shares of the company’s stock, valued at approximately $3,205,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Dropbox by 122.9% in the fourth quarter. GAMMA Investing LLC now owns 6,436 shares of the company’s stock worth $193,000 after buying an additional 3,548 shares in the last quarter. DGS Capital Management LLC boosted its stake in shares of Dropbox by 22.5% in the 3rd quarter. DGS Capital Management LLC now owns 13,767 shares of the company’s stock valued at $350,000 after purchasing an additional 2,532 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Dropbox by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after purchasing an additional 124,528 shares during the last quarter. American Trust purchased a new position in Dropbox in the 3rd quarter worth $271,000. Finally, Sanctuary Advisors LLC bought a new stake in Dropbox in the third quarter worth $268,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Trading Up 0.2 %

DBX stock opened at $30.07 on Tuesday. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.68 and a beta of 0.61. The firm’s 50-day moving average price is $28.59 and its two-hundred day moving average price is $25.57. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the sale, the chief financial officer now owns 403,764 shares of the company’s stock, valued at $11,971,602.60. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Houston sold 132,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $232,458,647.92. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 792,152 shares of company stock valued at $23,309,897 over the last ninety days. 26.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted their price objective on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.