Caisse DE Depot ET Placement DU Quebec Makes New Investment in Dropbox, Inc. (NASDAQ:DBX)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 459,589 shares of the company’s stock, valued at approximately $11,687,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Dropbox in the third quarter worth about $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC raised its stake in shares of Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after buying an additional 907 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Dropbox by 548.8% in the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after buying an additional 1,169 shares during the period. Finally, UMB Bank n.a. boosted its stake in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,686 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Activity at Dropbox

In related news, CEO Andrew Houston sold 3,493 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the 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 transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. This trade represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 464,782 shares of company stock valued at $11,673,797 in the last quarter. Insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dropbox Stock Performance

DBX opened at $28.37 on Tuesday. The firm has a market cap of $8.79 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. The business’s fifty day moving average is $26.49 and its 200-day moving average is $24.21. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43.

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.