Charles Schwab Investment Management Inc. Boosts Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Charles Schwab Investment Management Inc. grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBXFree Report) by 0.5% in the third quarter, HoldingsChannel reports. The fund owned 2,891,618 shares of the company’s stock after buying an additional 15,569 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Dropbox were worth $78,739,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Baupost Group LLC MA lifted its holdings in shares of Dropbox by 30.6% in the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock valued at $245,777,000 after buying an additional 2,476,021 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Dropbox by 7.5% in the second quarter. Renaissance Technologies LLC now owns 9,297,833 shares of the company’s stock valued at $247,973,000 after buying an additional 651,900 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Dropbox by 10.8% in the second quarter. Thrivent Financial for Lutherans now owns 5,013,693 shares of the company’s stock valued at $133,715,000 after buying an additional 490,484 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Dropbox by 6.5% in the second quarter. Geode Capital Management LLC now owns 4,245,279 shares of the company’s stock valued at $113,050,000 after buying an additional 257,648 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Dropbox by 9.5% in the first quarter. First Trust Advisors LP now owns 3,782,752 shares of the company’s stock valued at $81,783,000 after buying an additional 326,958 shares during the period. Institutional investors and hedge funds own 70.28% of the company’s stock.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total value of $97,500.00. Following the transaction, the chief financial officer now directly owns 434,761 shares of the company’s stock, valued at approximately $14,129,732.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total transaction of $97,500.00. Following the completion of the sale, the chief financial officer now owns 434,761 shares in the company, valued at approximately $14,129,732.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bart Volkmer sold 7,055 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $29.37, for a total value of $207,205.35. Following the sale, the insider now owns 267,623 shares of the company’s stock, valued at approximately $7,860,087.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,055 shares of company stock valued at $477,145. Company insiders own 25.78% of the company’s stock.

Wall Street Analyst Weigh In

DBX has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Dropbox in a research report on Friday, December 15th. They set a “buy” rating and a $36.00 target price on the stock. KeyCorp boosted their target price on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Dropbox currently has an average rating of “Hold” and a consensus price target of $31.00.

Get Our Latest Analysis on Dropbox

Dropbox Trading Down 2.2 %

NASDAQ:DBX opened at $32.44 on Tuesday. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.90 and a beta of 0.77. Dropbox, Inc. has a 1-year low of $18.71 and a 1-year high of $33.43. The business’s fifty day moving average price is $30.52 and its 200 day moving average price is $28.39.

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.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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