Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 32.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,869 shares of the company’s stock after selling 18,207 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Dropbox were worth $963,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in shares of Dropbox in the 3rd quarter worth $28,000. V Square Quantitative Management LLC purchased a new position in shares of Dropbox in the 3rd quarter worth $31,000. GAMMA Investing LLC raised its position in shares of Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after buying an additional 907 shares during the period. Fifth Third Bancorp raised its position in shares of Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after buying an additional 1,686 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group cut their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox has an average rating of “Hold” and an average target price of $28.67.

Insider Transactions at Dropbox

In related news, insider Eric Cox sold 2,330 shares of Dropbox stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at approximately $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the transaction, the chief financial officer now owns 485,724 shares of the company’s stock, valued at $11,827,379.40. This trade represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 464,782 shares of company stock valued at $11,673,797. 26.40% of the stock is currently owned by insiders.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $26.89 on Thursday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.72 and a beta of 0.61. The stock’s 50-day simple moving average is $25.88 and its 200-day simple moving average is $23.93.

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.