Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in Dropbox, Inc. (NASDAQ:DBX) by 45.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,763 shares of the company’s stock after selling 44,374 shares during the period. Intech Investment Management LLC’s holdings in Dropbox were worth $1,342,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after acquiring an additional 907 shares during the period. Capital Performance Advisors LLP purchased a new position in Dropbox in the 3rd quarter valued at approximately $28,000. Fifth Third Bancorp raised its holdings in Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after purchasing an additional 1,169 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Dropbox during the third quarter worth $31,000. Finally, Quarry LP grew its holdings in Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $28.37 on Wednesday. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The stock has a market cap of $8.79 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.57 and a beta of 0.61. The business’s fifty day moving average price is $26.14 and its two-hundred day moving average price is $24.06.

Insider Activity at Dropbox

In other Dropbox news, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 351,306 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $207,658,649.92. This trade represents a 4.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 464,782 shares of company stock valued at $11,673,797 over the last quarter. Insiders own 26.40% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.67.

Dropbox Profile

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.