Geode Capital Management LLC Grows Position in Dropbox, Inc. (NASDAQ:DBX)

Geode Capital Management LLC raised its position in Dropbox, Inc. (NASDAQ:DBX) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,366,271 shares of the company’s stock after acquiring an additional 25,893 shares during the quarter. Geode Capital Management LLC’s holdings in Dropbox were worth $111,368,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of Dropbox by 5.2% during the 2nd 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 in the last quarter. Pacer Advisors Inc. lifted its stake in Dropbox by 4.5% during the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after purchasing an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after purchasing an additional 365,893 shares in the last quarter. LSV Asset Management increased its stake in Dropbox by 9.2% in the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after purchasing an additional 314,862 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Dropbox by 39.7% during the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after purchasing an additional 859,233 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Activity at Dropbox

In other news, 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 transaction, the insider now directly owns 321,871 shares of the company’s stock, valued at $8,500,613.11. The trade was a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Houston sold 28,012 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $25.01, for a total transaction of $700,580.12. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $206,749,316.66. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 724,711 shares of company stock valued at $19,279,857 over the last ninety days. Insiders own 26.40% of the company’s stock.

Dropbox Trading Down 4.7 %

Shares of Dropbox stock opened at $29.34 on Thursday. The company has a fifty day simple moving average of $27.50 and a 200-day simple moving average of $24.74. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.68 and a beta of 0.63. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month 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.