Summit Trail Advisors LLC Acquires Shares of 8,117 Dropbox, Inc. (NASDAQ:DBX)

Summit Trail Advisors LLC bought a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,117 shares of the company's stock, valued at approximately $244,000.

Several other institutional investors also recently bought and sold shares of DBX. Empowered Funds LLC grew its stake in shares of Dropbox by 68.0% during the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock worth $1,086,000 after acquiring an additional 14,629 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in Dropbox in the 4th quarter worth approximately $472,000. Sumitomo Mitsui Trust Group Inc. grew its position in Dropbox by 1.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 39,083 shares of the company's stock worth $1,174,000 after purchasing an additional 571 shares during the last quarter. Clay Northam Wealth Management LLC acquired a new position in Dropbox during the 4th quarter valued at approximately $206,000. Finally, Optas LLC purchased a new position in shares of Dropbox in the fourth quarter worth $203,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Dropbox Stock Up 0.9 %

Shares of NASDAQ:DBX traded up $0.29 during midday trading on Friday, reaching $32.78. The company's stock had a trading volume of 2,410,565 shares, compared to its average volume of 2,490,581. The stock has a fifty day moving average of $30.80 and a 200 day moving average of $27.30. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The firm has a market capitalization of $10.15 billion, a PE ratio of 18.95, a P/E/G ratio of 1.64 and a beta of 0.61.

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 132,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at approximately $232,458,647.92. This represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the transaction, the chief financial officer now owns 413,764 shares in the company, valued at $12,570,150.32. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 902,568 shares of company stock valued at $26,741,730. Company insiders own 26.40% of the company's stock.

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.