Harbor Capital Advisors Inc. Has $215,000 Holdings in Dropbox, Inc. (NASDAQ:DBX)

Harbor Capital Advisors Inc. trimmed its position in Dropbox, Inc. (NASDAQ:DBX) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,172 shares of the company’s stock after selling 784 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Dropbox were worth $215,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its position in Dropbox by 63.0% during the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after purchasing an additional 2,881,981 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Dropbox by 63.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock worth $56,994,000 after buying an additional 986,942 shares during the period. AQR Capital Management LLC grew its holdings in shares of Dropbox by 39.7% during the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after buying an additional 859,233 shares in the last quarter. Distillate Capital Partners LLC acquired a new position in Dropbox during the second quarter valued at $14,291,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Dropbox during the 3rd quarter worth about $11,687,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and an average target price of $28.86.

Insider Transactions at Dropbox

In other Dropbox news, insider Eric Cox sold 2,330 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the transaction, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 464,247 shares of the company’s stock, valued at $11,935,790.37. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 819,569 shares of company stock worth $24,144,051 in the last 90 days. 26.40% of the stock is owned by insiders.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $30.09 on Wednesday. The business has a 50 day simple moving average of $29.02 and a 200 day simple moving average of $25.90. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.67 and a beta of 0.63.

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.