Aaron Wealth Advisors LLC raised its holdings in Dropbox, Inc. (NASDAQ:DBX – Free Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,151 shares of the company’s stock after purchasing an additional 461 shares during the period. Aaron Wealth Advisors LLC’s holdings in Dropbox were worth $305,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in DBX. QRG Capital Management Inc. increased its holdings in Dropbox by 10.6% in the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after buying an additional 21,190 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Dropbox in the 3rd quarter worth approximately $482,000. Retirement Systems of Alabama increased its holdings in shares of Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after acquiring an additional 228,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Dropbox by 6.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after purchasing an additional 134,503 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group boosted their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Dropbox has an average rating of “Hold” and an average price target of $27.50.
Dropbox Price Performance
Shares of DBX opened at $30.59 on Tuesday. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The stock has a fifty day moving average price of $29.24 and a 200 day moving average price of $26.12. The company has a market cap of $9.47 billion, a P/E ratio of 17.68, a PEG ratio of 1.49 and a beta of 0.61.
Insider Transactions at Dropbox
In other news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total transaction of $75,925.00. Following the completion of the transaction, the chief financial officer now directly owns 401,264 shares in the company, valued at approximately $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Cox sold 2,330 shares of the firm’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 sale, the insider now owns 321,871 shares in the company, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 822,069 shares of company stock worth $24,219,976. Insiders own 26.40% of the company’s stock.
About Dropbox
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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