Oak Thistle LLC Buys 13,320 Shares of Dropbox, Inc. (NASDAQ:DBX)

Oak Thistle LLC grew its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 70.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,249 shares of the company's stock after acquiring an additional 13,320 shares during the quarter. Oak Thistle LLC's holdings in Dropbox were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Dropbox in the 3rd quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in Dropbox in the third quarter worth about $31,000. UMB Bank n.a. boosted its stake in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company's stock valued at $45,000 after acquiring an additional 1,686 shares during the last quarter. Quarry LP grew its position in shares of Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company's stock valued at $44,000 after acquiring an additional 880 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Dropbox by 133.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company's stock worth $73,000 after purchasing an additional 1,650 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their price objective on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $28.86.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 29,917 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $30.07, for a total transaction of $899,604.19. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $248,578,646.62. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric Cox sold 2,330 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were 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 owns 321,871 shares of the company's stock, valued at $8,500,613.11. This trade 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 819,569 shares of company stock worth $24,144,051 over the last 90 days. Corporate insiders own 26.40% of the company's stock.

Dropbox Stock Up 0.1 %

DBX traded up $0.02 on Thursday, hitting $30.42. The company's stock had a trading volume of 1,579,230 shares, compared to its average volume of 2,556,088. The company's 50 day simple moving average is $29.07 and its 200-day simple moving average is $25.93. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The firm has a market cap of $9.42 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61.

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.