Bridgewater Associates LP Raises Holdings in Dropbox, Inc. (NASDAQ:DBX)

Bridgewater Associates LP increased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 37.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 703,012 shares of the company’s stock after buying an additional 192,199 shares during the period. Bridgewater Associates LP owned about 0.22% of Dropbox worth $17,878,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in Dropbox by 8.6% during the third quarter. Fisher Asset Management LLC now owns 155,131 shares of the company’s stock valued at $3,945,000 after buying an additional 12,248 shares during the period. Algert Global LLC increased its holdings in shares of Dropbox by 414.9% in the 3rd quarter. Algert Global LLC now owns 365,832 shares of the company’s stock valued at $9,303,000 after acquiring an additional 294,780 shares during the period. Cerity Partners LLC raised its position in shares of Dropbox by 21.2% in the 3rd quarter. Cerity Partners LLC now owns 96,537 shares of the company’s stock worth $2,455,000 after acquiring an additional 16,917 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after purchasing an additional 228,685 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after purchasing an additional 333,245 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Down 1.3 %

Shares of NASDAQ:DBX opened at $28.00 on Thursday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.60 and a beta of 0.61. The business has a 50-day moving average price of $26.29 and a 200-day moving average price of $24.12.

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the sale, the chief financial officer now directly owns 485,724 shares of the company’s stock, valued at $11,827,379.40. This trade represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares of the company’s stock, valued at $8,500,613.11. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,782 shares of company stock worth $11,673,797. Company insiders own 26.40% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group cut their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.