Eric Cox Sells 2,330 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider Eric Cox sold 2,330 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $27.64 on Friday. The business’s 50 day simple moving average is $25.94 and its 200 day simple moving average is $23.96. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The company has a market capitalization of $8.56 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.49 and a beta of 0.61.

Institutional Trading of Dropbox

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Dropbox by 0.4% in the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after buying an additional 105,250 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Dropbox by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after purchasing an additional 506,200 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Dropbox by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after purchasing an additional 25,893 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, UBS Group decreased their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Dropbox has a consensus rating of “Hold” and an average price target 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.