106,677 Shares in Dropbox, Inc. (NASDAQ:DBX) Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC bought a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 106,677 shares of the company's stock, valued at approximately $3,205,000.

Other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Dropbox by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company's stock valued at $231,761,000 after buying an additional 506,200 shares during the last quarter. Pacer Advisors Inc. raised its position in Dropbox by 4.5% during the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company's stock valued at $198,065,000 after acquiring an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company's stock valued at $158,670,000 after acquiring an additional 365,893 shares during the period. Geode Capital Management LLC boosted its position in Dropbox by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock worth $111,368,000 after purchasing an additional 25,893 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Dropbox by 9.2% during the 2nd quarter. LSV Asset Management now owns 3,742,292 shares of the company's stock worth $84,089,000 after purchasing an additional 314,862 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the sale, the chief financial officer now owns 413,764 shares of the company's stock, valued at $12,570,150.32. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Cox sold 2,330 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, 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 have sold a total of 792,152 shares of company stock worth $23,309,897 over the last quarter. 26.40% of the stock is currently owned by corporate insiders.

Dropbox Price Performance

Dropbox stock traded down $0.49 during midday trading on Tuesday, reaching $29.58. The company had a trading volume of 4,653,286 shares, compared to its average volume of 3,409,028. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The firm's fifty day simple moving average is $28.59 and its 200-day simple moving average is $25.57. The company has a market capitalization of $9.16 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.68 and a beta of 0.61.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $28.86.

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.