Jacobs Levy Equity Management Inc. Has $158.67 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

Jacobs Levy Equity Management Inc. increased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,239,493 shares of the company’s stock after purchasing an additional 365,893 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.92% of Dropbox worth $158,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DBX. GAMMA Investing LLC increased its position in Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Dropbox during the third quarter worth $28,000. Fifth Third Bancorp lifted its stake in shares of Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after acquiring an additional 1,169 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter valued at $31,000. Finally, Quarry LP grew its position in Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after acquiring an additional 880 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Stock Performance

Shares of Dropbox stock opened at $28.37 on Tuesday. The company has a fifty day moving average of $26.49 and a 200-day moving average of $24.21. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63.

Analyst Ratings Changes

Separately, UBS Group reduced their target price 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 assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.67.

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 351,306 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total value of $8,824,806.72. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $27.17, for a total value of $67,925.00. Following the sale, the chief financial officer now owns 436,264 shares of the company’s stock, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 464,782 shares of company stock worth $11,673,797. Company insiders own 26.40% of the company’s stock.

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.