Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Kestra Investment Management LLC

Kestra Investment Management LLC grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 61.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,142 shares of the company’s stock after purchasing an additional 6,545 shares during the period. Kestra Investment Management LLC’s holdings in Dropbox were worth $515,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in shares of Dropbox by 10.6% during the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after purchasing an additional 21,190 shares during the period. Aigen Investment Management LP acquired a new position in shares of Dropbox during the third quarter valued at $482,000. Retirement Systems of Alabama increased its holdings in shares of Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after purchasing an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after purchasing an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Dropbox by 6.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after purchasing an additional 134,503 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lifted their target price on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 900,238 shares of company stock valued at $26,680,195 over the last three months. Company insiders own 26.40% of the company’s stock.

Dropbox Stock Up 1.5 %

NASDAQ:DBX opened at $33.27 on Wednesday. The business’s 50-day moving average price is $30.88 and its 200 day moving average price is $27.37. The firm has a market cap of $10.30 billion, a P/E ratio of 19.23, a PEG ratio of 1.64 and a beta of 0.61. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

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.