Intrepid Capital Management Inc. Trims Position in Dropbox, Inc. (NASDAQ:DBX)

Intrepid Capital Management Inc. cut its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,329 shares of the company’s stock after selling 7,150 shares during the period. Dropbox accounts for 1.7% of Intrepid Capital Management Inc.’s portfolio, making the stock its 11th biggest position. Intrepid Capital Management Inc.’s holdings in Dropbox were worth $3,085,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DBX. Tidal Investments LLC increased its stake in shares of Dropbox by 51.5% during the first quarter. Tidal Investments LLC now owns 12,804 shares of the company’s stock valued at $311,000 after buying an additional 4,350 shares during the period. GAMMA Investing LLC grew its stake in Dropbox by 274.0% in the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares during the period. Harbor Capital Advisors Inc. grew its stake in Dropbox by 36.3% in the second quarter. Harbor Capital Advisors Inc. now owns 7,030 shares of the company’s stock worth $158,000 after purchasing an additional 1,873 shares during the period. CWM LLC grew its stake in Dropbox by 137.6% in the second quarter. CWM LLC now owns 49,223 shares of the company’s stock worth $1,106,000 after purchasing an additional 28,505 shares during the period. Finally, Clarius Group LLC purchased a new stake in Dropbox in the second quarter worth $204,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, UBS Group reduced their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.67.

Dropbox Trading Up 0.6 %

Dropbox stock traded up $0.18 during mid-day trading on Tuesday, hitting $28.55. The company had a trading volume of 130,272 shares, compared to its average volume of 3,619,170. The stock’s 50 day moving average price is $26.49 and its two-hundred day moving average price is $24.21. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The company has a market capitalization of $8.84 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63.

Insiders Place Their Bets

In other Dropbox news, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the sale, the insider now directly owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total value 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 $11,827,379.40. This trade represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 464,782 shares of company stock valued at $11,673,797. 26.40% of the stock is currently owned by corporate 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.