Versor Investments LP Acquires 3,000 Shares of Dropbox, Inc. (NASDAQ:DBX)

Versor Investments LP boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 26.6% in the third quarter, Holdings Channel reports. The firm owned 14,289 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Versor Investments LP’s holdings in Dropbox were worth $363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Dropbox by 0.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock worth $2,267,000 after buying an additional 383 shares in the last quarter. iA Global Asset Management Inc. raised its stake in Dropbox by 6.5% during the second quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock worth $219,000 after acquiring an additional 597 shares in the last quarter. Tobam lifted its holdings in shares of Dropbox by 4.1% during the second quarter. Tobam now owns 19,642 shares of the company’s stock valued at $441,000 after acquiring an additional 767 shares during the period. Quarry LP lifted its holdings in shares of Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after purchasing an additional 907 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Stock Down 2.2 %

Dropbox stock opened at $27.06 on Friday. The stock has a 50-day simple moving average of $25.67 and a 200 day simple moving average of $23.86. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.78 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Analysts Set New Price Targets

Separately, UBS Group dropped their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.67.

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 351,306 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $207,658,649.92. This trade represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the sale, the chief financial officer now owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. The trade was a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 459,952 shares of company stock valued at $11,544,337. Insiders own 26.40% of the company’s stock.

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.