Aurora Investment Counsel Raises Position in Dropbox, Inc. (NASDAQ:DBX)

Aurora Investment Counsel raised its stake in Dropbox, Inc. (NASDAQ:DBX) by 18.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,245 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. Aurora Investment Counsel’s holdings in Dropbox were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Assenagon Asset Management S.A. increased its position in shares of Dropbox by 0.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock valued at $2,267,000 after acquiring an additional 383 shares during the last quarter. iA Global Asset Management Inc. increased its position in shares of Dropbox by 6.5% during the second quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock valued at $219,000 after acquiring an additional 597 shares during the last quarter. Tobam grew its holdings in Dropbox by 4.1% during the second quarter. Tobam now owns 19,642 shares of the company’s stock valued at $441,000 after purchasing an additional 767 shares during the period. Quarry LP grew its holdings in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after purchasing an additional 907 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, November 15th. The stock was sold at an average price of $27.17, for a total transaction of $67,925.00. Following the completion of the sale, the chief financial officer now owns 436,264 shares of the company’s stock, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Cox sold 2,330 shares of Dropbox stock in a transaction 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 of the company’s stock, valued at $8,500,613.11. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 464,782 shares of company stock valued at $11,673,797 over the last three months. Company insiders own 26.40% of the company’s stock.

Dropbox Trading Up 0.8 %

Shares of NASDAQ DBX opened at $26.89 on Thursday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The stock has a fifty day simple moving average of $25.88 and a two-hundred day simple moving average of $23.93. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61.

Analyst Ratings Changes

Separately, UBS Group reduced their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.67.

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.