Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 68.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,576 shares of the company’s stock after purchasing an additional 10,777 shares during the quarter. HighTower Advisors LLC’s holdings in Dropbox were worth $683,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Dropbox in the third quarter valued at approximately $28,000. Fifth Third Bancorp increased its stake in Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after purchasing an additional 1,169 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the third quarter worth about $31,000. Quarry LP boosted its stake in shares of 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 purchasing an additional 880 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,686 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 137,499 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total transaction of $4,131,844.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $248,413,313.30. This represents a 1.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares of the company’s stock, valued at $8,500,613.11. This trade 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 sold 724,711 shares of company stock worth $19,279,857. Company insiders own 26.40% of the company’s stock.

Dropbox Stock Up 1.5 %

Shares of DBX opened at $29.79 on Friday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The firm’s 50 day moving average price is $27.58 and its 200 day moving average price is $24.77. The company has a market cap of $9.23 billion, a P/E ratio of 17.22, a PEG ratio of 1.68 and a beta of 0.63.

Dropbox 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.