Mutual of America Capital Management LLC Sells 10,131 Shares of Dropbox, Inc. (NASDAQ:DBX)

Mutual of America Capital Management LLC lessened its stake in Dropbox, Inc. (NASDAQ:DBX) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,223 shares of the company’s stock after selling 10,131 shares during the period. Mutual of America Capital Management LLC’s holdings in Dropbox were worth $3,261,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after purchasing an additional 105,250 shares during the period. Renaissance Technologies LLC raised its position in Dropbox by 5.2% in the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after acquiring an additional 506,200 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Dropbox by 63.0% during the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after acquiring an additional 2,881,981 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Dropbox by 0.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock worth $113,485,000 after acquiring an additional 32,600 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of Dropbox by 9.2% during the 2nd quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after acquiring an additional 314,862 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 3,177 shares of Dropbox stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $79,425.00. Following the sale, the chief financial officer now owns 481,747 shares in the company, valued at $12,043,675. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $61,535.30. Following the transaction, the insider now owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 464,782 shares of company stock valued at $11,673,797 over the last ninety days. 26.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, UBS Group lowered their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.67.

Dropbox Price Performance

Shares of DBX stock opened at $27.99 on Friday. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The company’s fifty day moving average price is $26.00 and its 200-day moving average price is $23.98. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.49 and a beta of 0.61.

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.