Weiss Asset Management LP Purchases Shares of 39,554 Dropbox, Inc. (NASDAQ:DBX)

Weiss Asset Management LP purchased a new stake in Dropbox, Inc. (NASDAQ:DBX) in the 3rd quarter, HoldingsChannel reports. The fund purchased 39,554 shares of the company’s stock, valued at approximately $1,006,000.

A number of other hedge funds also recently made changes to their positions in DBX. Quantinno Capital Management LP increased its position in Dropbox by 112.4% during the 3rd quarter. Quantinno Capital Management LP now owns 302,684 shares of the company’s stock valued at $7,697,000 after purchasing an additional 160,152 shares during the period. Quarry LP boosted its stake in shares of Dropbox by 23.4% in the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after purchasing an additional 459 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after buying an additional 365,893 shares during the period. HighTower Advisors LLC raised its stake in Dropbox by 68.2% during the third quarter. HighTower Advisors LLC now owns 26,576 shares of the company’s stock worth $683,000 after buying an additional 10,777 shares during the last quarter. Finally, Holocene Advisors LP lifted its holdings in Dropbox by 478.3% in the third quarter. Holocene Advisors LP now owns 92,160 shares of the company’s stock valued at $2,344,000 after buying an additional 76,225 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Insider Activity at Dropbox

In related news, CEO Andrew Houston sold 3,493 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at approximately $11,827,379.40. This represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 596,782 shares of company stock worth $15,385,637 in the last 90 days. Corporate insiders own 26.40% of the company’s stock.

Dropbox Trading Up 1.1 %

Shares of Dropbox stock opened at $29.06 on Monday. The business has a 50-day moving average price of $26.79 and a two-hundred day moving average price of $24.36. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The company has a market cap of $9.00 billion, a P/E ratio of 16.80, a PEG ratio of 1.61 and a beta of 0.63.

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.