Dropbox, Inc. (NASDAQ:DBX - Get Free Report) insider Eric Cox sold 2,330 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the sale, the insider now directly owns 321,871 shares of the company's stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Dropbox Stock Up 1.1 %
Shares of Dropbox stock opened at $26.67 on Wednesday. The firm's 50-day moving average price is $25.82 and its two-hundred day moving average price is $23.91. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.72 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Dropbox by 274.0% in the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company's stock valued at $28,000 after buying an additional 907 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Dropbox in the 3rd quarter valued at approximately $28,000. Fifth Third Bancorp grew its holdings in shares of Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company's stock valued at $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 3rd quarter worth approximately $31,000. Finally, 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 purchasing an additional 880 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.
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Separately, UBS Group cut their price objective on shares of Dropbox from $30.00 to $28.00 and set a "buy" rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Dropbox has an average rating of "Hold" and an average target price of $28.67.
View Our Latest Analysis on Dropbox
Dropbox Company Profile
(
Get Free Report)
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.
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