Burney Co. Trims Position in Dropbox, Inc. (NASDAQ:DBX)

Burney Co. lowered its stake in Dropbox, Inc. (NASDAQ:DBX) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,032 shares of the company’s stock after selling 1,187 shares during the period. Burney Co.’s holdings in Dropbox were worth $512,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DBX. Oak Thistle LLC lifted its position in shares of Dropbox by 70.4% in the 4th quarter. Oak Thistle LLC now owns 32,249 shares of the company’s stock worth $969,000 after purchasing an additional 13,320 shares during the period. Cooper Financial Group boosted its position in Dropbox by 39.8% during the 4th quarter. Cooper Financial Group now owns 22,466 shares of the company’s stock valued at $675,000 after acquiring an additional 6,395 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Dropbox during the 4th quarter worth approximately $3,205,000. GAMMA Investing LLC grew its holdings in shares of Dropbox by 122.9% during the 4th quarter. GAMMA Investing LLC now owns 6,436 shares of the company’s stock worth $193,000 after acquiring an additional 3,548 shares during the period. Finally, DGS Capital Management LLC lifted its stake in shares of Dropbox by 22.5% in the 3rd quarter. DGS Capital Management LLC now owns 13,767 shares of the company’s stock valued at $350,000 after purchasing an additional 2,532 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Trading Up 0.6 %

Shares of NASDAQ:DBX opened at $30.59 on Friday. The stock has a fifty day simple moving average of $29.19 and a two-hundred day simple moving average of $26.01. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.49 and a beta of 0.61.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.86.

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of Dropbox stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $232,458,647.92. This trade represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.37, for a total value of $75,925.00. Following the transaction, the chief financial officer now directly owns 401,264 shares in the company, valued at approximately $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 822,069 shares of company stock valued at $24,219,976 in the last quarter. 26.40% of the stock is owned by insiders.

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.