Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Avion Wealth

Avion Wealth grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 4,472.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,006 shares of the company’s stock after purchasing an additional 984 shares during the quarter. Avion Wealth’s holdings in Dropbox were worth $30,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Summit Trail Advisors LLC acquired a new position in shares of Dropbox during the 4th quarter worth approximately $244,000. Empowered Funds LLC lifted its position in Dropbox by 68.0% during the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock worth $1,086,000 after buying an additional 14,629 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in Dropbox during the fourth quarter worth $472,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Dropbox by 1.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 39,083 shares of the company’s stock valued at $1,174,000 after buying an additional 571 shares in the last quarter. Finally, Clay Northam Wealth Management LLC acquired a new stake in shares of Dropbox in the 4th quarter worth $206,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $245,106,646.90. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the sale, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 905,068 shares of company stock worth $26,809,655. 26.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.50.

Dropbox Stock Performance

Shares of Dropbox stock opened at $31.90 on Thursday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.64 and a beta of 0.61. The stock has a 50 day moving average of $30.59 and a 200 day moving average of $27.13.

Dropbox 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.