Kestra Investment Management LLC Has $515,000 Holdings in Dropbox, Inc. (NASDAQ:DBX)

Kestra Investment Management LLC boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 61.8% in the fourth quarter, HoldingsChannel reports. The fund owned 17,142 shares of the company’s stock after buying an additional 6,545 shares during the quarter. Kestra Investment Management LLC’s holdings in Dropbox were worth $515,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of DBX. Capital Performance Advisors LLP acquired a new stake in Dropbox during the 3rd quarter worth about $28,000. Avion Wealth lifted its holdings in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after buying an additional 984 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter valued at about $31,000. Allworth Financial LP lifted its holdings in shares of Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after buying an additional 365 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Dropbox by 35.6% during the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock valued at $54,000 after buying an additional 472 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Price Performance

Shares of Dropbox stock opened at $33.27 on Wednesday. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.64 and a beta of 0.61. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The stock has a 50-day simple moving average of $30.88 and a 200-day simple moving average of $27.37.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lifted their price target on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at $12,755,738.16. The trade was a 0.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 137,499 shares of Dropbox stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $248,413,313.30. This represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 900,238 shares of company stock worth $26,680,195. 26.40% of the stock is currently owned by insiders.

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.