Ceera Investments LLC Purchases 13,726 Shares of Dropbox, Inc. (NASDAQ:DBX)

Ceera Investments LLC increased its position in Dropbox, Inc. (NASDAQ:DBX) by 6.4% in the 3rd quarter, Holdings Channel reports. The firm owned 226,676 shares of the company’s stock after buying an additional 13,726 shares during the quarter. Dropbox comprises approximately 2.2% of Ceera Investments LLC’s investment portfolio, making the stock its 12th biggest position. Ceera Investments LLC’s holdings in Dropbox were worth $5,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Dropbox by 0.4% during the first 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 in the last quarter. Renaissance Technologies LLC increased its stake in shares of Dropbox by 5.2% in the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after buying an additional 506,200 shares in the last quarter. Pacer Advisors Inc. increased 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 valued at $167,523,000 after buying an additional 2,881,981 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Dropbox by 0.7% in 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 buying an additional 32,600 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Dropbox by 9.2% in 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 in the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Trading Down 2.2 %

Shares of DBX opened at $27.06 on Friday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The stock has a market cap of $8.38 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61. The stock’s 50-day moving average price is $25.75 and its two-hundred day moving average price is $23.88.

Analysts Set New Price Targets

Separately, UBS Group lowered 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.67.

Insiders Place Their Bets

In other Dropbox news, CEO Andrew Houston sold 351,306 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $207,658,649.92. The trade was a 4.08 % decrease in their position. 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 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 transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. This trade represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 459,952 shares of company stock worth $11,544,337. 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.