Cooper Financial Group Grows Position in Dropbox, Inc. (NASDAQ:DBX)

Cooper Financial Group raised its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 39.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,466 shares of the company’s stock after purchasing an additional 6,395 shares during the period. Cooper Financial Group’s holdings in Dropbox were worth $675,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in shares of Dropbox during the 3rd quarter worth $28,000. V Square Quantitative Management LLC purchased a new stake in Dropbox during the third quarter valued at about $31,000. Quarry LP grew its position in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares during the period. UMB Bank n.a. increased its stake in Dropbox by 2,479.4% during the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,686 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Dropbox by 133.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock worth $73,000 after purchasing an additional 1,650 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group boosted their target price on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Dropbox has a consensus rating of “Hold” and a consensus target price of $28.86.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $29.61 on Tuesday. The business’s 50-day simple moving average is $28.95 and its 200 day simple moving average is $25.84. The company has a market cap of $9.17 billion, a P/E ratio of 17.12, a PEG ratio of 1.67 and a beta of 0.63. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.17, for a total value of $67,925.00. Following the transaction, the chief financial officer now directly owns 436,264 shares of the company’s stock, valued at $11,853,292.88. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 500,323 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 819,569 shares of company stock worth $24,144,051 over the last 90 days. Company insiders own 26.40% of the company’s stock.

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.