Thrivent Financial for Lutherans Has $1.67 Million Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Thrivent Financial for Lutherans increased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,771 shares of the company’s stock after acquiring an additional 7,385 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Dropbox were worth $1,672,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Dropbox in the 3rd quarter valued at $28,000. Fifth Third Bancorp raised its stake in Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares during the period. V Square Quantitative Management LLC bought a new position in Dropbox during the third quarter worth about $31,000. Finally, Quarry LP grew its stake in Dropbox by 81.1% in 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. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 3,177 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 481,747 shares in the company, valued at approximately $12,043,675. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 66,064 shares of Dropbox stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 464,782 shares of company stock valued at $11,673,797 in the last 90 days. 26.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, UBS Group dropped their price target 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 issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.67.

Dropbox Trading Down 1.2 %

DBX opened at $27.66 on Friday. The stock has a market capitalization of $8.57 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.57 and a beta of 0.61. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The firm’s fifty day simple moving average is $26.42 and its 200 day simple moving average is $24.18.

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.