Glenmede Trust Co. NA Raises Holdings in Dropbox, Inc. (NASDAQ:DBX)

Glenmede Trust Co. NA raised its position in Dropbox, Inc. (NASDAQ:DBX) by 1.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 751,387 shares of the company’s stock after purchasing an additional 9,078 shares during the period. Glenmede Trust Co. NA owned 0.23% of Dropbox worth $19,108,000 at the end of the most recent quarter.

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

Insider Activity at Dropbox

In related news, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Houston sold 3,493 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 464,782 shares of company stock worth $11,673,797. Insiders own 26.40% of the company’s stock.

Dropbox Stock Performance

Dropbox stock opened at $28.00 on Friday. The company’s 50 day simple moving average is $26.36 and its 200-day simple moving average is $24.15. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61.

Wall Street Analyst Weigh In

Separately, UBS Group decreased their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.67.

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.