Caisse DE Depot ET Placement DU Quebec Invests $11.69 Million in Dropbox, Inc. (NASDAQ:DBX)

Caisse DE Depot ET Placement DU Quebec acquired a new position in Dropbox, Inc. (NASDAQ:DBX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 459,589 shares of the company’s stock, valued at approximately $11,687,000. Caisse DE Depot ET Placement DU Quebec owned about 0.14% of Dropbox at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DBX. Renaissance Technologies LLC raised its holdings in Dropbox by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after acquiring an additional 506,200 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Dropbox by 4.5% during the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares during the period. LSV Asset Management raised its stake in shares of Dropbox by 9.2% in the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after purchasing an additional 314,862 shares in the last quarter. AQR Capital Management LLC lifted its position in Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after purchasing an additional 859,233 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after buying an additional 228,685 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox 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 owns 485,724 shares in the company, valued at approximately $11,827,379.40. The trade was a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 3,493 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $87,325.00. 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. The trade was a 0.04 % decrease in their ownership of the stock. 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. Corporate insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dropbox Price Performance

Shares of DBX stock opened at $28.37 on Tuesday. The stock’s fifty day simple moving average is $26.49 and its 200 day simple moving average is $24.21. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 1.55 and a beta of 0.61.

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.