Burney Co. Has $512,000 Stake in Dropbox, Inc. (NASDAQ:DBX)

Burney Co. reduced its stake in Dropbox, Inc. (NASDAQ:DBX) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,032 shares of the company’s stock after selling 1,187 shares during the period. Burney Co.’s holdings in Dropbox were worth $512,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Oak Thistle LLC raised its holdings in Dropbox by 70.4% during the fourth quarter. Oak Thistle LLC now owns 32,249 shares of the company’s stock worth $969,000 after buying an additional 13,320 shares during the last quarter. Cooper Financial Group boosted its position in Dropbox by 39.8% in the fourth quarter. Cooper Financial Group now owns 22,466 shares of the company’s stock worth $675,000 after purchasing an additional 6,395 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Dropbox during the fourth quarter valued at about $3,205,000. GAMMA Investing LLC increased its stake in shares of Dropbox by 122.9% during the 4th quarter. GAMMA Investing LLC now owns 6,436 shares of the company’s stock worth $193,000 after purchasing an additional 3,548 shares during the last quarter. Finally, DGS Capital Management LLC increased its position in Dropbox by 22.5% in the third quarter. DGS Capital Management LLC now owns 13,767 shares of the company’s stock worth $350,000 after buying an additional 2,532 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.86.

Dropbox Stock Up 0.6 %

Shares of NASDAQ DBX opened at $30.59 on Friday. The stock’s 50-day simple moving average is $29.19 and its two-hundred day simple moving average is $26.01. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The firm has a market capitalization of $9.47 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.49 and a beta of 0.61.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $27.17, for a total value of $67,925.00. Following the transaction, the chief financial officer now owns 436,264 shares in the company, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the sale, the insider now owns 321,871 shares of the company’s stock, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 822,069 shares of company stock worth $24,219,976. Insiders own 26.40% of the company’s stock.

Dropbox Company 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.