MetLife Investment Management LLC Sells 4,856 Shares of Dropbox, Inc. (NASDAQ:DBX)

MetLife Investment Management LLC trimmed its position in Dropbox, Inc. (NASDAQ:DBX) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,031 shares of the company’s stock after selling 4,856 shares during the period. MetLife Investment Management LLC’s holdings in Dropbox were worth $3,205,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DBX. GAMMA Investing LLC lifted its holdings in shares of Dropbox by 274.0% in the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after purchasing an additional 907 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Dropbox in the third quarter valued at about $28,000. Fifth Third Bancorp lifted its holdings in shares of Dropbox by 548.8% in the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after purchasing an additional 1,169 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Dropbox in the third quarter valued at about $31,000. Finally, Quarry LP lifted its holdings in shares of Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 351,306 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $207,658,649.92. This represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. The trade was a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 464,782 shares of company stock worth $11,673,797 over the last 90 days. Company insiders own 26.40% of the company’s stock.

Dropbox Stock Up 1.3 %

NASDAQ:DBX opened at $28.73 on Wednesday. The stock’s 50 day moving average price is $26.57 and its two-hundred day moving average price is $24.25. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.59 and a beta of 0.63. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Wall Street Analysts Forecast Growth

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