Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Seizert Capital Partners LLC

Seizert Capital Partners LLC grew its position in Dropbox, Inc. (NASDAQ:DBX) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,442 shares of the company’s stock after acquiring an additional 8,983 shares during the period. Seizert Capital Partners LLC owned about 0.09% of Dropbox worth $7,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Natixis Advisors LLC acquired a new position in Dropbox during the third quarter worth $270,000. Kovack Advisors Inc. purchased a new stake in shares of Dropbox during the 3rd quarter worth $287,000. Victory Capital Management Inc. grew its stake in shares of Dropbox by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 735,053 shares of the company’s stock worth $18,692,000 after purchasing an additional 5,772 shares during the period. Aigen Investment Management LP purchased a new position in shares of Dropbox in the 3rd quarter valued at about $482,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Dropbox by 4.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 38,512 shares of the company’s stock valued at $979,000 after purchasing an additional 1,800 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $25.71, for a total transaction of $64,275.00. Following the sale, the chief financial officer now directly owns 464,247 shares of the company’s stock, valued at $11,935,790.37. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 66,064 shares of Dropbox stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $206,666,650. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 459,952 shares of company stock valued at $11,544,337. Corporate insiders own 26.40% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group lowered 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 assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Dropbox has a consensus rating of “Hold” and an average price target of $28.67.

Dropbox Price Performance

Shares of Dropbox stock opened at $27.06 on Friday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The business has a 50 day moving average price of $25.75 and a 200 day moving average price of $23.88. The company has a market capitalization of $8.81 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.78 and a beta of 0.61.

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.