Dropbox, Inc. (NASDAQ:DBX) Stake Lessened by Commerce Bank

Commerce Bank decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,065 shares of the company’s stock after selling 3,206 shares during the quarter. Commerce Bank’s holdings in Dropbox were worth $3,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in shares of Dropbox by 63.0% during the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after purchasing an additional 2,881,981 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after buying an additional 986,942 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after buying an additional 859,233 shares during the last quarter. Distillate Capital Partners LLC bought a new stake in shares of Dropbox during the 2nd quarter worth about $14,291,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Dropbox by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after acquiring an additional 506,200 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their price objective on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two research 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.67.

Dropbox Price Performance

Dropbox stock opened at $27.99 on Friday. The business has a 50 day simple moving average of $26.00 and a 200 day simple moving average of $23.98. The company has a market capitalization of $8.67 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 3,177 shares of Dropbox stock in a transaction 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 completion of the transaction, the chief financial officer now owns 481,747 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Andrew Houston sold 3,493 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was 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 in the company, valued at approximately $206,666,650. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 464,782 shares of company stock valued at $11,673,797. 26.40% of the stock is currently owned by company insiders.

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.