HighTower Advisors LLC Grows Position in Dropbox, Inc. (NASDAQ:DBX)

HighTower Advisors LLC lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 68.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,576 shares of the company’s stock after purchasing an additional 10,777 shares during the period. HighTower Advisors LLC’s holdings in Dropbox were worth $683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in Dropbox by 0.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock valued at $2,267,000 after acquiring an additional 383 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Dropbox by 6.5% during the second quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock worth $219,000 after purchasing an additional 597 shares in the last quarter. Tobam raised its position in shares of Dropbox by 4.1% during the 2nd quarter. Tobam now owns 19,642 shares of the company’s stock worth $441,000 after purchasing an additional 767 shares during the last quarter. Quarry LP lifted its stake in Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after buying an additional 880 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Dropbox by 13.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company’s stock worth $202,000 after buying an additional 926 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Trading Up 1.5 %

NASDAQ:DBX opened at $29.79 on Friday. The stock has a 50 day moving average of $27.58 and a two-hundred day moving average of $24.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The firm has a market cap of $9.23 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63.

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 Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total transaction of $64,275.00. Following the transaction, the chief financial officer now directly owns 464,247 shares in the company, valued at $11,935,790.37. The trade was a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 28,012 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $25.01, for a total value of $700,580.12. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $206,749,316.66. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 724,711 shares of company stock valued at $19,279,857 over the last ninety days. Insiders own 26.40% of the company’s stock.

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.