Summit Trail Advisors LLC Acquires New Holdings in Dropbox, Inc. (NASDAQ:DBX)

Summit Trail Advisors LLC bought a new stake in Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,117 shares of the company’s stock, valued at approximately $244,000.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Dropbox in the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in Dropbox during the third quarter worth $31,000. Fifth Third Bancorp boosted its position in shares of Dropbox by 35.6% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after buying an additional 472 shares during the period. Quarry LP grew its stake in shares of Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after buying an additional 459 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Dropbox by 133.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after buying an additional 1,650 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.50.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 132,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $232,458,647.92. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the sale, the insider now directly owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 905,068 shares of company stock valued at $26,809,655 over the last ninety days. Insiders own 26.40% of the company’s stock.

Dropbox Trading Up 0.2 %

Shares of Dropbox stock opened at $31.90 on Thursday. The company has a fifty day simple moving average of $30.59 and a 200-day simple moving average of $27.13. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.64 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

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.