Wedge Capital Management L L P NC lessened its stake in Dropbox, Inc. (NASDAQ:DBX – Free Report) by 13.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 123,029 shares of the company’s stock after selling 18,849 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Dropbox were worth $3,696,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after acquiring an additional 333,245 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Geode Capital Management LLC increased its holdings in Dropbox by 0.6% during the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after buying an additional 25,893 shares during the period. AQR Capital Management LLC raised its stake in Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after buying an additional 859,233 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after buying an additional 228,685 shares during the period. Institutional investors own 94.84% of the company’s stock.
Insider Activity at Dropbox
In related news, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now directly owns 321,871 shares of the company’s stock, valued at $8,500,613.11. This represents a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total value of $64,275.00. Following the sale, the chief financial officer now directly owns 464,247 shares of the company’s stock, valued at approximately $11,935,790.37. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 822,069 shares of company stock valued at $24,219,976 in the last ninety days. Corporate insiders own 26.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on DBX
Dropbox Trading Up 0.6 %
Shares of DBX stock opened at $30.59 on Monday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The business’s fifty day simple moving average is $29.19 and its 200-day simple moving average is $26.06. The company has a market cap of $9.47 billion, a PE ratio of 17.68, a PEG ratio of 1.49 and a beta of 0.61.
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.
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