Fisher Asset Management LLC Increases Holdings in Dropbox, Inc. (NASDAQ:DBX)

Fisher Asset Management LLC grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 8.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 155,131 shares of the company’s stock after acquiring an additional 12,248 shares during the quarter. Fisher Asset Management LLC’s holdings in Dropbox were worth $3,945,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in Dropbox in the 1st quarter worth about $291,000. Tidal Investments LLC raised its position in Dropbox by 51.5% in the 1st quarter. Tidal Investments LLC now owns 12,804 shares of the company’s stock worth $311,000 after purchasing an additional 4,350 shares during the period. iA Global Asset Management Inc. raised its position in Dropbox by 34.4% in the 1st quarter. iA Global Asset Management Inc. now owns 9,128 shares of the company’s stock worth $222,000 after purchasing an additional 2,335 shares during the period. Virtu Financial LLC purchased a new stake in Dropbox in the 1st quarter worth about $380,000. Finally, Swedbank AB purchased a new stake in Dropbox in the 1st quarter worth about $1,754,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $28.00 on Friday. The firm has a market cap of $8.67 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61. The firm’s 50 day simple moving average is $26.36 and its 200-day simple moving average is $24.15. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at approximately $11,827,379.40. This trade represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Cox sold 2,330 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 321,871 shares in the company, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 464,782 shares of company stock valued at $11,673,797. 26.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.