Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Dropbox, Inc. (NASDAQ:DBXFree Report) by 11.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 787,169 shares of the company’s stock after selling 104,672 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Dropbox were worth $21,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nemes Rush Group LLC purchased a new stake in shares of Dropbox during the second quarter worth about $27,000. Fifth Third Bancorp increased its position in shares of Dropbox by 424.2% during the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after acquiring an additional 878 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Dropbox during the second quarter worth about $29,000. Huntington National Bank increased its position in shares of Dropbox by 2,160.0% during the second quarter. Huntington National Bank now owns 1,130 shares of the company’s stock worth $30,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Dropbox during the second quarter worth about $35,000. Institutional investors and hedge funds own 70.28% of the company’s stock.

Dropbox Stock Up 1.2 %

Shares of DBX stock opened at $33.16 on Monday. The business has a 50 day moving average of $30.52 and a two-hundred day moving average of $28.38. Dropbox, Inc. has a 52 week low of $18.71 and a 52 week high of $33.43. The company has a market cap of $11.47 billion, a P/E ratio of 20.86, a PEG ratio of 1.90 and a beta of 0.77.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DBX shares. KeyCorp boosted their price objective on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 19th. UBS Group started coverage on Dropbox in a report on Friday, December 15th. They issued a “buy” rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Check Out Our Latest Research Report on Dropbox

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.07, for a total value of $84,210.00. Following the completion of the transaction, the chief financial officer now directly owns 456,761 shares in the company, valued at $12,821,281.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Bart Volkmer sold 7,055 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.37, for a total transaction of $207,205.35. Following the completion of the transaction, the insider now directly owns 267,623 shares in the company, valued at $7,860,087.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.07, for a total value of $84,210.00. Following the transaction, the chief financial officer now owns 456,761 shares of the company’s stock, valued at $12,821,281.27. The disclosure for this sale can be found here. Insiders sold a total of 16,055 shares of company stock worth $477,145 over the last ninety days. Company insiders own 25.78% of the company’s stock.

Dropbox 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.

See Also

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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