Banque Cantonale Vaudoise Cuts Stake in Dropbox, Inc. (NASDAQ:DBX)

Banque Cantonale Vaudoise cut its position in Dropbox, Inc. (NASDAQ:DBX) by 5.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,946 shares of the company’s stock after selling 847 shares during the period. Banque Cantonale Vaudoise’s holdings in Dropbox were worth $380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after acquiring an additional 105,250 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Dropbox by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after purchasing an additional 506,200 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after purchasing an additional 2,881,981 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Dropbox by 0.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock valued at $113,485,000 after purchasing an additional 32,600 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Dropbox by 9.2% during the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after buying an additional 314,862 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus price target of $28.67.

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the sale, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 3,177 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the completion of the transaction, the chief financial officer now directly owns 481,747 shares in the company, valued at $12,043,675. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 464,782 shares of company stock valued at $11,673,797. 26.40% of the stock is owned by insiders.

Dropbox Stock Up 2.8 %

Dropbox stock opened at $27.64 on Friday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The company has a market cap of $8.56 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.49 and a beta of 0.61. The business has a 50-day simple moving average of $25.94 and a two-hundred day simple moving average of $23.96.

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.