Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Commerce Bank

by · The Cerbat Gem

Commerce Bank lessened its holdings in shares of Dropbox, Inc. (NASDAQ:DBX – Free Report) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,065 shares of the company’s stock after selling 3,206 shares during the period. Commerce Bank’s holdings in Dropbox were worth $3,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 acquiring an additional 105,250 shares during the period. Renaissance Technologies LLC boosted 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 worth $231,761,000 after purchasing an additional 506,200 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after buying an additional 2,881,981 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Dropbox by 0.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock valued at $113,485,000 after buying an additional 32,600 shares in the last quarter. Finally, LSV Asset Management raised its stake 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 worth $84,089,000 after buying an additional 314,862 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group dropped their price objective on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two equities research 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.67.

Read Our Latest Stock Analysis on DBX

Insider Buying and Selling

In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the sale, the chief financial officer now owns 485,724 shares of the company’s stock, valued at $11,827,379.40. This represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Houston sold 3,493 shares of the 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 $87,325.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $206,666,650. This trade represents a 0.04 % 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 worth $11,673,797 over the last ninety days. 26.40% of the stock is owned by insiders.

Dropbox Trading Up 1.3 %

DBX stock opened at $27.99 on Friday. The firm has a 50 day simple moving average of $26.00 and a 200-day simple moving average of $23.98. The company has a market capitalization of $8.67 billion, a P/E ratio of 16.18, a PEG ratio of 1.49 and a beta of 0.61. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43.

Dropbox Company Profile

(Free Report)

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.

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