Gladius Capital Management LP Lowers Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Gladius Capital Management LP trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 9.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 40,530 shares of the company’s stock after selling 4,216 shares during the period. Dropbox makes up about 0.1% of Gladius Capital Management LP’s investment portfolio, making the stock its 6th biggest position. Gladius Capital Management LP’s holdings in Dropbox were worth $1,031,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted 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 in the last quarter. Capital Performance Advisors LLP acquired a new stake in Dropbox in the 3rd quarter valued at $28,000. Fifth Third Bancorp grew its position in Dropbox by 548.8% in the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after acquiring an additional 1,169 shares during the period. V Square Quantitative Management LLC acquired a new position in Dropbox during the third quarter worth $31,000. Finally, Quarry LP boosted its stake in shares of Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Stock Performance

Dropbox stock opened at $27.06 on Friday. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The firm has a market cap of $8.38 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.72 and a beta of 0.61. The business’s fifty day moving average is $25.75 and its two-hundred day moving average is $23.88.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 66,064 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $206,666,650. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 3,177 shares of Dropbox stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the completion of the sale, the chief financial officer now owns 481,747 shares of the company’s stock, valued at approximately $12,043,675. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 459,952 shares of company stock worth $11,544,337 in the last quarter. Insiders own 26.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their target price on shares of 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.67.

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.