Dropbox, Inc. (NASDAQ:DBX) Stake Decreased by Tidal Investments LLC

Tidal Investments LLC trimmed its holdings in Dropbox, Inc. (NASDAQ:DBX) by 15.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 45,482 shares of the company’s stock after selling 8,541 shares during the quarter. Tidal Investments LLC’s holdings in Dropbox were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DBX. QRG Capital Management Inc. raised its position in shares of Dropbox by 10.6% during the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after buying an additional 21,190 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Dropbox in the third quarter valued at approximately $482,000. Charles Schwab Investment Management Inc. increased its stake in shares of Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after acquiring an additional 228,685 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Dropbox by 6.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after purchasing an additional 134,503 shares in the last quarter. Finally, IVY Lane Capital Management LLC acquired a new stake in Dropbox in the third quarter worth approximately $3,179,000. 94.84% of the stock is owned by institutional investors.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $29.79 on Friday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The firm has a market cap of $9.23 billion, a P/E ratio of 17.22, a PEG ratio of 1.68 and a beta of 0.63. The stock has a fifty day moving average price of $27.58 and a two-hundred day moving average price of $24.77.

Insider Activity

In related news, 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 sale, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. The trade was a 0.72 % 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 firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.18, for a total transaction of $65,450.00. Following the sale, the chief financial officer now owns 466,747 shares of the company’s stock, valued at $12,219,436.46. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 724,711 shares of company stock worth $19,279,857 over the last 90 days. 26.40% of the stock is currently owned by company 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.