Charles Schwab Investment Management Inc. Raises Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Charles Schwab Investment Management Inc. raised its stake in Dropbox, Inc. (NASDAQ:DBXFree Report) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,891,618 shares of the company’s stock after buying an additional 15,569 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.83% of Dropbox worth $78,739,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DBX. PNC Financial Services Group Inc. lifted its position in Dropbox by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,730 shares of the company’s stock valued at $133,000 after buying an additional 918 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in Dropbox during the first quarter worth about $217,000. MetLife Investment Management LLC purchased a new stake in Dropbox during the first quarter worth about $447,000. Blair William & Co. IL increased its stake in Dropbox by 233.0% during the first quarter. Blair William & Co. IL now owns 102,489 shares of the company’s stock worth $2,383,000 after purchasing an additional 71,708 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Dropbox by 47.6% during the first quarter. Canada Pension Plan Investment Board now owns 21,710 shares of the company’s stock worth $505,000 after purchasing an additional 7,000 shares during the period. Institutional investors and hedge funds own 70.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on DBX shares. UBS Group started coverage on shares of Dropbox in a research note on Friday, December 15th. They set a “buy” rating and a $36.00 price target on the stock. KeyCorp boosted their price target on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.00.

Read Our Latest Analysis on DBX

Insider Buying and Selling

In related news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total value of $97,500.00. Following the completion of the transaction, the chief financial officer now directly owns 434,761 shares of the company’s stock, valued at $14,129,732.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Bart Volkmer sold 7,055 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.37, for a total value of $207,205.35. Following the completion of the sale, the insider now directly owns 267,623 shares of the company’s stock, valued at $7,860,087.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the completion of the sale, the chief financial officer now directly owns 434,761 shares of the company’s stock, valued at $14,129,732.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,055 shares of company stock worth $477,145. Company insiders own 25.78% of the company’s stock.

Dropbox Stock Performance

DBX stock opened at $32.44 on Tuesday. The company’s 50 day moving average price is $30.52 and its 200 day moving average price is $28.39. Dropbox, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $33.43. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.90 and a beta of 0.77.

About Dropbox

(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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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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