Caz Investments LP Increases Position in Dropbox, Inc. (NASDAQ:DBX)

Caz Investments LP boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 100.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,000 shares of the company’s stock after purchasing an additional 4,500 shares during the quarter. Dropbox makes up 0.1% of Caz Investments LP’s holdings, making the stock its 15th largest position. Caz Investments LP’s holdings in Dropbox were worth $215,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DBX. Capital Performance Advisors LLP purchased a new position in Dropbox in the 3rd quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in shares of Dropbox in the third quarter valued at approximately $31,000. GAMMA Investing LLC lifted 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 valued at $28,000 after acquiring an additional 907 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after purchasing an additional 1,169 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,686 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the sale, the chief financial officer now owns 485,724 shares of the company’s stock, valued at $11,827,379.40. The trade was a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 464,782 shares of company stock valued at $11,673,797 over the last quarter. 26.40% of the stock is owned by insiders.

Dropbox Trading Down 0.5 %

Dropbox stock opened at $28.37 on Wednesday. The stock has a market cap of $8.79 billion, a P/E ratio of 16.40, a PEG ratio of 1.60 and a beta of 0.61. The company has a 50-day moving average price of $26.22 and a 200 day moving average price of $24.09. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Analysts Set New Price Targets

Separately, UBS Group decreased their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note 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 data from MarketBeat, Dropbox presently has a consensus 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.