Janney Montgomery Scott LLC Invests $656,000 in Dropbox, Inc. (NASDAQ:DBX)

Janney Montgomery Scott LLC bought a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,847 shares of the company's stock, valued at approximately $656,000.

Several other institutional investors have also recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in Dropbox by 0.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company's stock valued at $2,267,000 after purchasing an additional 383 shares during the period. Quarry LP lifted its position in Dropbox by 23.4% in the third 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. Aaron Wealth Advisors LLC raised its position in Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock worth $305,000 after acquiring an additional 461 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Dropbox by 10.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,389 shares of the company's stock valued at $162,000 after purchasing an additional 490 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Dropbox by 13.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company's stock valued at $202,000 after acquiring an additional 926 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the transaction, the chief financial officer now directly owns 396,264 shares of the company's stock, valued at $12,755,738.16. The trade was a 0.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 905,068 shares of company stock worth $26,809,655. Corporate insiders own 26.40% of the company's stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $27.50.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded down $0.13 during trading on Tuesday, hitting $31.85. The company's stock had a trading volume of 2,025,440 shares, compared to its average volume of 2,731,365. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The company has a market capitalization of $9.86 billion, a PE ratio of 18.41, a PEG ratio of 1.64 and a beta of 0.61. The stock's 50-day moving average price is $30.53 and its two-hundred day moving average price is $27.08.

Dropbox Company 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.