Dropbox, Inc. (NASDAQ:DBX) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,595 shares of the company’s stock after selling 5,163 shares during the quarter. First Horizon Advisors Inc.’s holdings in Dropbox were worth $600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DBX. Pacer Advisors Inc. grew its holdings in shares of Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after purchasing an additional 2,881,981 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Dropbox by 63.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after buying an additional 986,942 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Dropbox by 39.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after acquiring an additional 859,233 shares in the last quarter. Distillate Capital Partners LLC acquired a new position in Dropbox in the second quarter valued at approximately $14,291,000. Finally, Renaissance Technologies LLC increased its stake in Dropbox by 5.2% in the second 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 during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, UBS Group cut 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 analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.67.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 66,064 shares of Dropbox stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total value of $1,651,600.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $206,666,650. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $27.17, for a total transaction of $67,925.00. Following the sale, the chief financial officer now directly owns 436,264 shares of the company’s stock, valued at approximately $11,853,292.88. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 464,782 shares of company stock worth $11,673,797. 26.40% of the stock is owned by company insiders.

Dropbox Price Performance

DBX stock opened at $27.64 on Friday. The firm has a market capitalization of $8.56 billion, a PE ratio of 15.98, a P/E/G ratio of 1.49 and a beta of 0.61. The company’s 50 day simple moving average is $25.94 and its 200-day simple moving average is $23.96. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

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.