Dropbox, Inc. (NASDAQ:DBX) Insider Eric Cox Sells 2,330 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) insider Eric Cox sold 2,330 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 in the company, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Dropbox Stock Up 1.1 %

Shares of NASDAQ:DBX opened at $26.67 on Wednesday. The business has a 50 day moving average price of $25.82 and a 200 day moving average price of $23.91. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.72 and a beta of 0.61. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43.

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 for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued 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 an average target price of $28.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after buying an additional 105,250 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after acquiring an additional 506,200 shares during the period. Pacer Advisors Inc. raised its stake in shares of Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.