Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 68.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,140 shares of the company’s stock after buying an additional 14,629 shares during the period. Empowered Funds LLC’s holdings in Dropbox were worth $1,086,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Dropbox during the 3rd quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in shares of Dropbox during the third quarter worth about $31,000. Fifth Third Bancorp lifted its stake in shares of Dropbox by 35.6% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after purchasing an additional 472 shares in the last quarter. Quarry LP boosted its position in shares of Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after buying an additional 459 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Dropbox by 383.4% in the third quarter. Blue Trust Inc. now owns 2,934 shares of the company’s stock valued at $75,000 after buying an additional 2,327 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Price Performance

Shares of DBX stock opened at $32.78 on Monday. The company’s fifty day moving average price is $30.80 and its two-hundred day moving average price is $27.30. The firm has a market capitalization of $10.15 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.64 and a beta of 0.61. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th.

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $232,458,647.92. This represents a 1.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the completion of the sale, the chief financial officer now directly owns 403,764 shares of the company’s stock, valued at $11,971,602.60. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 900,238 shares of company stock valued at $26,680,195. 26.40% of the stock is currently owned by insiders.

Dropbox Company 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.