Lecap Asset Management Ltd. Takes Position in Dropbox, Inc. (NASDAQ:DBX)

Lecap Asset Management Ltd. acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,701 shares of the company's stock, valued at approximately $472,000.

A number of other large investors have also added to or reduced their stakes in DBX. Capital Performance Advisors LLP bought a new position in Dropbox during the third quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new position in Dropbox in the third quarter valued at about $31,000. UMB Bank n.a. boosted its position in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company's stock worth $45,000 after purchasing an additional 1,686 shares during the last quarter. 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 lifted its stake in shares of Dropbox by 23.4% in the 3rd quarter. Quarry LP now owns 2,424 shares of the company's stock worth $62,000 after purchasing an additional 459 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Dropbox Trading Up 0.2 %

Dropbox stock traded up $0.05 during mid-day trading on Wednesday, hitting $31.90. The stock had a trading volume of 2,339,970 shares, compared to its average volume of 2,717,383. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The firm has a market capitalization of $9.88 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.64 and a beta of 0.61. The firm's 50 day moving average is $30.59 and its 200 day moving average is $27.13.

Insider Activity at Dropbox

In other Dropbox news, insider Eric Cox sold 2,330 shares of the stock in a transaction 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 in the company, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $27.17, for a total transaction of $67,925.00. Following the completion of the sale, the chief financial officer now owns 436,264 shares in the company, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 905,068 shares of company stock valued at $26,809,655. 26.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.