Geode Capital Management LLC Has $111.37 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Geode Capital Management LLC boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 0.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,366,271 shares of the company's stock after buying an additional 25,893 shares during the period. Geode Capital Management LLC owned approximately 1.34% of Dropbox worth $111,368,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in shares of Dropbox by 63.0% during the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company's stock worth $167,523,000 after buying an additional 2,881,981 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company's stock worth $56,994,000 after acquiring an additional 986,942 shares in the last quarter. AQR Capital Management LLC raised its stake in Dropbox by 39.7% during the second 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 stake in shares of Dropbox in the 2nd quarter valued at approximately $14,291,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Dropbox by 5.2% in the 2nd 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 in the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Trading Up 1.5 %

NASDAQ:DBX traded up $0.45 on Thursday, hitting $29.79. The company had a trading volume of 2,959,077 shares, compared to its average volume of 3,605,454. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.68 and a beta of 0.63. The firm has a 50 day moving average of $27.50 and a two-hundred day moving average of $24.74.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 351,306 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at approximately $207,658,649.92. This trade represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Cox sold 2,330 shares of the business's stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 724,711 shares of company stock valued at $19,279,857 in the last 90 days. 26.40% of the stock is owned by corporate insiders.

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.