Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Graphene Investments SAS

Graphene Investments SAS reduced its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 22.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,500 shares of the company's stock after selling 28,600 shares during the period. Dropbox comprises approximately 2.0% of Graphene Investments SAS's portfolio, making the stock its 29th biggest holding. Graphene Investments SAS's holdings in Dropbox were worth $2,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DBX. Capital Performance Advisors LLP purchased a new position in Dropbox in the 3rd quarter worth about $28,000. V Square Quantitative Management LLC purchased a new position in Dropbox in the 3rd quarter worth about $31,000. UMB Bank n.a. grew its stake in shares of Dropbox by 2,479.4% during the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company's stock valued at $45,000 after purchasing an additional 1,686 shares during the period. Fifth Third Bancorp grew its stake in shares of Dropbox by 35.6% during the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock valued at $54,000 after purchasing an additional 472 shares during the period. Finally, Quarry LP grew its stake in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company's stock valued at $62,000 after purchasing an additional 459 shares during the period. Institutional investors own 94.84% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Dropbox presently has a consensus rating of "Hold" and a consensus target price of $27.50.

Dropbox Stock Performance

Dropbox stock traded up $0.01 during mid-day trading on Tuesday, reaching $31.99. 980,580 shares of the company were exchanged, compared to its average volume of 2,691,749. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The firm's 50-day simple moving average is $30.45 and its two-hundred day simple moving average is $27.02. The firm has a market cap of $9.91 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 500,323 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at $245,106,646.90. This trade represents a 5.71 % decrease in their position. 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 Dropbox stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now directly owns 321,871 shares of the company's stock, 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. In the last ninety days, insiders sold 902,568 shares of company stock valued at $26,729,180. 26.40% of the stock is owned by company insiders.

About Dropbox

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.