Vinva Investment Management Ltd Takes Position in Dropbox, Inc. (NASDAQ:DBX)

Vinva Investment Management Ltd purchased a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 14,493 shares of the company’s stock, valued at approximately $369,000.

Other hedge funds have also added to or reduced their stakes in the company. CreativeOne Wealth LLC acquired a new stake in Dropbox in the third quarter valued at about $232,000. Caz Investments LP lifted its holdings in shares of Dropbox by 100.0% in the third quarter. Caz Investments LP now owns 9,000 shares of the company’s stock worth $215,000 after acquiring an additional 4,500 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Dropbox by 1.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 751,387 shares of the company’s stock valued at $19,108,000 after purchasing an additional 9,078 shares in the last quarter. Bridgewater Associates LP grew its holdings in shares of Dropbox by 37.6% during the 3rd quarter. Bridgewater Associates LP now owns 703,012 shares of the company’s stock valued at $17,878,000 after purchasing an additional 192,199 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Dropbox by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 155,131 shares of the company’s stock worth $3,945,000 after purchasing an additional 12,248 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Price Performance

Dropbox stock opened at $27.66 on Friday. The business has a 50 day moving average of $26.42 and a 200-day moving average of $24.18. The company has a market capitalization of $8.57 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.57 and a beta of 0.61. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43.

Analyst Ratings Changes

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

Insider Buying and Selling at Dropbox

In other Dropbox news, CEO Andrew Houston sold 3,493 shares of the firm’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 transaction of $87,325.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $206,666,650. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $24.35, for a total transaction of $60,875.00. Following the completion of the sale, the chief financial officer now directly owns 485,724 shares in the company, valued at approximately $11,827,379.40. This represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,782 shares of company stock worth $11,673,797. 26.40% of the stock is currently owned by company insiders.

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.