Caz Investments LP Grows Position in Dropbox, Inc. (NASDAQ:DBX)

Caz Investments LP boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 100.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,000 shares of the company’s stock after acquiring an additional 4,500 shares during the period. Dropbox comprises about 0.1% of Caz Investments LP’s portfolio, making the stock its 15th largest position. Caz Investments LP’s holdings in Dropbox were worth $215,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DBX. Renaissance Technologies LLC raised its position in shares of Dropbox by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after acquiring an additional 506,200 shares in the last quarter. Pacer Advisors Inc. grew its stake in Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares during the last quarter. LSV Asset Management raised its holdings in Dropbox by 9.2% in the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock worth $84,089,000 after purchasing an additional 314,862 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Dropbox by 39.7% during the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after buying an additional 859,233 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Activity

In related news, CEO Andrew Houston sold 351,306 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $207,658,649.92. This trade represents a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Cox sold 2,330 shares of the stock in a transaction dated Monday, November 18th. The stock was 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. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 464,782 shares of company stock valued at $11,673,797 over the last ninety days. 26.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Dropbox Stock Performance

Dropbox stock opened at $28.37 on Wednesday. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The stock has a market cap of $8.79 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61. The stock has a 50-day moving average of $26.22 and a two-hundred day moving average of $24.09.

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.