Versor Investments LP Takes $1.12 Million Position in Dropbox, Inc. $DBX

Versor Investments LP bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 36,900 shares of the company’s stock, valued at approximately $1,115,000.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in Dropbox by 7.3% in the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after purchasing an additional 2,655 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of Dropbox during the 2nd quarter valued at $552,000. IFP Advisors Inc raised its position in shares of Dropbox by 92.5% during the 2nd quarter. IFP Advisors Inc now owns 8,330 shares of the company’s stock valued at $245,000 after buying an additional 4,002 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Dropbox by 4.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 43,813 shares of the company’s stock worth $1,253,000 after acquiring an additional 2,025 shares during the last quarter. Finally, CWM LLC grew its position in Dropbox by 131.2% in the second quarter. CWM LLC now owns 185,914 shares of the company’s stock worth $5,317,000 after acquiring an additional 105,511 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Price Performance

DBX opened at $24.88 on Tuesday. Dropbox, Inc. has a one year low of $24.41 and a one year high of $33.27. The business has a 50 day simple moving average of $27.24 and a two-hundred day simple moving average of $28.53. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 2.04 and a beta of 0.63.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 164,502 shares of Dropbox stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.66, for a total transaction of $4,221,121.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 1,500 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $29.64, for a total transaction of $44,460.00. Following the completion of the transaction, the chief financial officer directly owned 439,147 shares of the company’s stock, valued at approximately $13,016,317.08. The trade was a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 568,556 shares of company stock worth $15,851,617 over the last quarter. Corporate insiders own 28.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DBX. Royal Bank Of Canada decreased their price objective on Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.33.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.