OVERSEA CHINESE BANKING Corp Ltd Takes $517,000 Position in Dropbox, Inc. (NASDAQ:DBX)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,325 shares of the company’s stock, valued at approximately $517,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of Dropbox by 0.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock valued at $2,267,000 after acquiring an additional 383 shares in the last quarter. iA Global Asset Management Inc. increased its stake in Dropbox by 6.5% during the 2nd quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock valued at $219,000 after purchasing an additional 597 shares in the last quarter. Tobam raised its holdings in shares of Dropbox by 4.1% in the second quarter. Tobam now owns 19,642 shares of the company’s stock worth $441,000 after buying an additional 767 shares during the last quarter. Quarry LP lifted its stake in shares of Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after buying an additional 880 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after buying an additional 907 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ:DBX opened at $27.91 on Thursday. The firm’s fifty day moving average is $25.59 and its two-hundred day moving average is $23.84. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.78 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the transaction, the chief financial officer now directly owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the transaction, the chief financial officer now owns 485,724 shares in the company, valued at approximately $11,827,379.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 351,306 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total value of $8,824,806.72. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $207,658,649.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 459,952 shares of company stock worth $11,544,337 over the last quarter. 26.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, UBS Group reduced their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and a consensus price target of $28.67.

Dropbox 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.