Dropbox, Inc. (NASDAQ:DBX) Holdings Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,796,238 shares of the company’s stock after acquiring an additional 228,685 shares during the period. Charles Schwab Investment Management Inc. owned 0.86% of Dropbox worth $71,108,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DBX. Renaissance Technologies LLC raised its position in Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after acquiring an additional 506,200 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares during the last quarter. LSV Asset Management boosted its holdings in Dropbox by 9.2% in the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock worth $84,089,000 after purchasing an additional 314,862 shares in the last quarter. AQR Capital Management LLC increased its position in Dropbox by 39.7% during 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 during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after buying an additional 986,942 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Price Performance

DBX stock opened at $28.00 on Friday. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61. The company has a 50-day moving average of $26.36 and a two-hundred day moving average of $24.15. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a 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 given a buy rating to the company’s stock. According to MarketBeat, Dropbox presently has a consensus rating of “Hold” and an average target price of $28.67.

Insider Buying and Selling

In related news, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $24.35, for a total transaction of $60,875.00. Following the completion of the sale, the chief financial officer now directly owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. This trade represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 464,782 shares of company stock valued at $11,673,797. Insiders own 26.40% of the company’s stock.

About Dropbox

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.