M&T Bank Corp Takes $229,000 Position in Dropbox, Inc. (NASDAQ:DBX)

M&T Bank Corp acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,016 shares of the company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of Dropbox by 7.5% in the 2nd quarter. Raymond James & Associates now owns 88,448 shares of the company’s stock valued at $1,987,000 after acquiring an additional 6,165 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Dropbox by 548.8% during 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. Retirement Systems of Alabama boosted its stake in shares of Dropbox by 154.7% during the second quarter. Retirement Systems of Alabama now owns 819,505 shares of the company’s stock valued at $18,414,000 after purchasing an additional 497,806 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in shares of Dropbox by 21.6% during the second quarter. AustralianSuper Pty Ltd now owns 1,518,874 shares of the company’s stock worth $34,129,000 after purchasing an additional 270,200 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Dropbox in the 2nd quarter valued at approximately $84,000. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

NASDAQ:DBX opened at $29.79 on Friday. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The company has a market cap of $9.23 billion, a PE ratio of 17.22, a P/E/G ratio of 1.68 and a beta of 0.63. The firm’s 50 day simple moving average is $27.58 and its 200 day simple moving average is $24.77.

Insider Transactions at Dropbox

In other news, CEO Andrew Houston sold 66,064 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $206,666,650. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Cox sold 2,330 shares of the company’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 completion of the sale, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 724,711 shares of company stock worth $19,279,857. Company insiders own 26.40% of the company’s stock.

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.