Dropbox, Inc. (NASDAQ:DBX) Insider Eric Cox Sells 2,330 Shares of Stock

by · The Cerbat Gem

Dropbox, Inc. (NASDAQ:DBX – Get Free Report) insider Eric Cox sold 2,330 shares of the company’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 sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Dropbox Stock Up 1.1 %

Shares of NASDAQ:DBX opened at $26.67 on Wednesday. The business has a 50 day moving average price of $25.82 and a 200 day moving average price of $23.91. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.72 and a beta of 0.61. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43.

Analysts Set New Price Targets

Separately, UBS Group reduced their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.67.

Read Our Latest Stock Analysis on Dropbox

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after buying an additional 105,250 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 acquiring an additional 506,200 shares during the period. Pacer Advisors Inc. raised its stake in shares of Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

About Dropbox

(Get 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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