Bridgewater Associates LP Boosts Stake in Dropbox, Inc. (NASDAQ:DBX)

Bridgewater Associates LP lifted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 37.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 703,012 shares of the company’s stock after purchasing an additional 192,199 shares during the quarter. Bridgewater Associates LP’s holdings in Dropbox were worth $17,878,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings 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. raised its stake in Dropbox by 6.5% in the 2nd quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock valued at $219,000 after purchasing an additional 597 shares during the last quarter. Tobam lifted its holdings in Dropbox by 4.1% in the 2nd quarter. Tobam now owns 19,642 shares of the company’s stock valued at $441,000 after purchasing an additional 767 shares in the last quarter. Quarry LP lifted its holdings in 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. Finally, GAMMA Investing LLC boosted its stake in Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Down 1.3 %

Shares of NASDAQ:DBX opened at $28.00 on Thursday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The stock has a market cap of $8.67 billion, a P/E ratio of 16.18, a PEG ratio of 1.60 and a beta of 0.61. The business has a fifty day moving average of $26.29 and a two-hundred day moving average of $24.12.

Insider Activity

In other news, insider Eric Cox sold 2,330 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $24.35, for a total transaction of $60,875.00. Following the sale, the chief financial officer now owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. This represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 464,782 shares of company stock valued at $11,673,797. 26.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced 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 given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, 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.