Quantinno Capital Management LP Has $7.70 Million Holdings in Dropbox, Inc. (NASDAQ:DBX)

Quantinno Capital Management LP boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 112.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 302,684 shares of the company’s stock after purchasing an additional 160,152 shares during the period. Quantinno Capital Management LP’s holdings in Dropbox were worth $7,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in Dropbox by 10.6% during the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after purchasing an additional 21,190 shares during the last quarter. Lakewood Asset Management LLC bought a new stake in Dropbox in the 2nd quarter valued at about $797,000. Aigen Investment Management LP bought a new stake in Dropbox in the 3rd quarter valued at about $482,000. Charles Schwab Investment Management Inc. grew its holdings in Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group cut their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and an average price target of $28.67.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of the company’s 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 directly owns 8,266,666 shares in the company, valued at approximately $232,458,647.92. This represents a 1.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $27.17, for a total value of $67,925.00. Following the completion of the sale, the chief financial officer now owns 436,264 shares of the company’s stock, valued at $11,853,292.88. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 596,782 shares of company stock valued at $15,385,637. Corporate insiders own 26.40% of the company’s stock.

Dropbox Stock Up 0.2 %

DBX stock opened at $28.73 on Friday. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The stock has a market cap of $8.90 billion, a P/E ratio of 16.61, a PEG ratio of 1.61 and a beta of 0.63. The business’s 50-day moving average price is $26.72 and its 200-day moving average price is $24.31.

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.