Wedge Capital Management L L P NC Lowers Stake in Dropbox, Inc. (NASDAQ:DBX)

Wedge Capital Management L L P NC lessened its stake in Dropbox, Inc. (NASDAQ:DBXFree 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

Separately, Jefferies Financial Group lifted their price target on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.50.

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

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding DBX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dropbox, Inc. (NASDAQ:DBXFree Report).

Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.