39,554 Shares in Dropbox, Inc. (NASDAQ:DBX) Purchased by Weiss Asset Management LP

Weiss Asset Management LP acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 39,554 shares of the company’s stock, valued at approximately $1,006,000.

Other hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in shares of Dropbox by 112.4% in the 3rd quarter. Quantinno Capital Management LP now owns 302,684 shares of the company’s stock valued at $7,697,000 after purchasing an additional 160,152 shares during the last quarter. Quarry LP lifted its position in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after buying an additional 459 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after buying an additional 365,893 shares in the last quarter. HighTower Advisors LLC grew its position in Dropbox by 68.2% in the third quarter. HighTower Advisors LLC now owns 26,576 shares of the company’s stock valued at $683,000 after acquiring an additional 10,777 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in Dropbox by 478.3% during the third quarter. Holocene Advisors LP now owns 92,160 shares of the company’s stock worth $2,344,000 after acquiring an additional 76,225 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Insider Activity at Dropbox

In other news, 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 transaction of $60,875.00. Following the sale, the chief financial officer now directly owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. This trade represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 3,493 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total value of $87,325.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 596,782 shares of company stock valued at $15,385,637 in the last quarter. Insiders own 26.40% of the company’s stock.

Dropbox Trading Up 1.1 %

DBX stock opened at $29.06 on Monday. The stock has a market capitalization of $9.00 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.63. The firm has a 50-day moving average price of $26.79 and a 200-day moving average price of $24.36. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

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.