Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Dropbox, Inc. (NASDAQ:DBX) by 122.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,436 shares of the company’s stock after buying an additional 3,548 shares during the quarter. GAMMA Investing LLC’s holdings in Dropbox were worth $193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after buying an additional 506,200 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after acquiring an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after acquiring an additional 365,893 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 purchasing an additional 25,893 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Dropbox by 39.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after purchasing an additional 859,233 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their price objective on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.86.

Dropbox Price Performance

DBX stock opened at $29.74 on Thursday. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The firm has a fifty day moving average price of $28.66 and a two-hundred day moving average price of $25.63.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.18, for a total transaction of $65,450.00. Following the sale, the chief financial officer now owns 466,747 shares of the company’s stock, valued at $12,219,436.46. The trade was a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Houston sold 29,917 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $30.07, for a total value of $899,604.19. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $248,578,646.62. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 822,069 shares of company stock valued at $24,209,501. Company 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.