Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its position in Dropbox, Inc. (NASDAQ:DBX) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 751,387 shares of the company’s stock after acquiring an additional 9,078 shares during the quarter. Glenmede Trust Co. NA’s holdings in Dropbox were worth $19,108,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Dropbox by 63.0% during the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after acquiring an additional 2,881,981 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock worth $56,994,000 after purchasing an additional 986,942 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after purchasing an additional 859,233 shares in the last quarter. Distillate Capital Partners LLC purchased a new position in Dropbox in the second quarter valued at approximately $14,291,000. Finally, Renaissance Technologies LLC raised its holdings in Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after purchasing an additional 506,200 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 3,177 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the transaction, the chief financial officer now owns 481,747 shares in the company, valued at $12,043,675. The trade was a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 66,064 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total value of $1,651,600.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 464,782 shares of company stock worth $11,673,797 in the last 90 days. 26.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, UBS Group lowered their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.67.

Dropbox Trading Down 1.3 %

Shares of NASDAQ DBX opened at $28.00 on Friday. The stock has a market cap of $8.67 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.60 and a beta of 0.61. The stock has a 50 day moving average of $26.36 and a two-hundred day moving average of $24.15. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43.

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.