Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Oak Thistle LLC

Oak Thistle LLC raised its position in Dropbox, Inc. (NASDAQ:DBX) by 70.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,249 shares of the company’s stock after buying an additional 13,320 shares during the period. Oak Thistle LLC’s holdings in Dropbox were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. grew 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 worth $5,638,000 after buying an additional 21,190 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Dropbox during the 3rd quarter valued at about $482,000. Retirement Systems of Alabama raised its holdings in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after purchasing an additional 228,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after purchasing an additional 134,503 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $28.12, for a total value of $3,711,840.00. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $232,458,647.92. This represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $27.17, for a total transaction of $67,925.00. Following the sale, the chief financial officer now owns 436,264 shares of the company’s stock, valued at approximately $11,853,292.88. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 819,569 shares of company stock worth $24,144,051. Company insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Dropbox Price Performance

Shares of NASDAQ DBX opened at $30.40 on Thursday. The company has a market capitalization of $9.42 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.67 and a beta of 0.63. The company has a 50 day simple moving average of $29.07 and a 200-day simple moving average of $25.93. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43.

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.