United Services Automobile Association Sells 2,394 Shares of Dropbox, Inc. (NASDAQ:DBX)

United Services Automobile Association lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 12.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,116 shares of the company’s stock after selling 2,394 shares during the quarter. United Services Automobile Association’s holdings in Dropbox were worth $410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Dropbox during the third quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter worth $31,000. GAMMA Investing LLC increased its position in shares of Dropbox by 274.0% in the second 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 period. Fifth Third Bancorp raised its stake 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 purchasing an additional 1,169 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Dropbox by 2,479.4% during the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,686 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Stock Down 0.7 %

DBX stock opened at $28.87 on Tuesday. The company’s 50-day moving average price is $26.86 and its two-hundred day moving average price is $24.40. The firm has a market cap of $8.94 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.63 and a beta of 0.63. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 3,493 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 $87,325.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Cox sold 2,330 shares of the stock in a transaction dated 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 of the company’s stock, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 596,782 shares of company stock valued at $15,385,637 over the last three months. 26.40% of the stock is owned by insiders.

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.