Summit Trail Advisors LLC Takes Position in Dropbox, Inc. (NASDAQ:DBX)

Summit Trail Advisors LLC purchased a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 8,117 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors have also recently added to or reduced their stakes in DBX. Capital Performance Advisors LLP acquired a new stake in Dropbox during the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Dropbox during the third quarter worth approximately $31,000. Fifth Third Bancorp lifted its holdings in shares of Dropbox by 35.6% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after purchasing an additional 472 shares during the period. Quarry LP grew its position in Dropbox by 23.4% in the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after buying an additional 459 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Dropbox by 133.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after buying an additional 1,650 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Price Performance

Dropbox stock opened at $31.90 on Thursday. The stock’s 50 day moving average price is $30.59 and its 200 day moving average price is $27.13. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The company has a market cap of $9.88 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their target price on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.50.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Houston sold 80,499 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $256,018,646.02. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 905,068 shares of company stock valued at $26,809,655. 26.40% of the stock is owned by company insiders.

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.