Shell Asset Management Co. Has $72,000 Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Shell Asset Management Co. grew its position in Dropbox, Inc. (NASDAQ:DBXFree Report) by 51.4% during the third quarter, HoldingsChannel.com reports. The firm owned 2,643 shares of the company’s stock after buying an additional 897 shares during the quarter. Shell Asset Management Co.’s holdings in Dropbox were worth $72,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DBX. Baupost Group LLC MA lifted its position 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 last quarter. Renaissance Technologies LLC lifted its position 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 last quarter. Thrivent Financial for Lutherans lifted its position 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 last quarter. Geode Capital Management LLC lifted its position 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 last quarter. Finally, First Trust Advisors LP lifted its position 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 last quarter. 70.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on Dropbox

Insider Activity

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

Dropbox Price Performance

Dropbox stock opened at $32.44 on Tuesday. The stock’s fifty day moving average price is $30.52 and its two-hundred day moving average price is $28.39. Dropbox, Inc. has a one year low of $18.71 and a one year high of $33.43. The firm has a market cap of $11.22 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.90 and a beta of 0.77.

About Dropbox

(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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