Aurora Investment Counsel Grows Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Aurora Investment Counsel raised its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 18.0% during the third quarter, HoldingsChannel reports. The firm owned 39,245 shares of the company’s stock after purchasing an additional 6,000 shares during the period. Aurora Investment Counsel’s holdings in Dropbox were worth $998,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Dropbox by 0.4% in the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after buying an additional 105,250 shares during the period. QRG Capital Management Inc. increased its holdings in Dropbox by 10.6% during the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after purchasing an additional 21,190 shares during the period. Lakewood Asset Management LLC purchased a new position in Dropbox during the 2nd quarter valued at about $797,000. Aigen Investment Management LP purchased a new position in Dropbox during the 3rd quarter valued at about $482,000. Finally, Janus Henderson Group PLC increased its holdings in Dropbox by 16.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after purchasing an additional 228,316 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

Dropbox stock opened at $26.89 on Thursday. The stock’s 50 day simple moving average is $25.88 and its two-hundred day simple moving average is $23.93. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.49 and a beta of 0.61. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 3,177 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the sale, the chief financial officer now directly owns 481,747 shares of the company’s stock, valued at $12,043,675. The trade was a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Houston sold 351,306 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $207,658,649.92. This represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,782 shares of company stock valued at $11,673,797. 26.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.67.

Dropbox 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.