Cibc World Market Inc. Has $330,000 Position in Dropbox, Inc. (NASDAQ:DBX)

Cibc World Market Inc. lowered its holdings in Dropbox, Inc. (NASDAQ:DBXGet Rating) by 58.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,712 shares of the company’s stock after selling 22,481 shares during the quarter. Cibc World Market Inc.’s holdings in Dropbox were worth $330,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ellevest Inc. raised its position in shares of Dropbox by 6,231.6% during the second quarter. Ellevest Inc. now owns 1,203 shares of the company’s stock worth $25,000 after acquiring an additional 1,184 shares during the last quarter. Covestor Ltd raised its position in shares of Dropbox by 446.6% during the first quarter. Covestor Ltd now owns 1,372 shares of the company’s stock worth $32,000 after acquiring an additional 1,121 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Dropbox during the first quarter worth $40,000. CWM LLC raised its position in shares of Dropbox by 101.2% during the second quarter. CWM LLC now owns 3,236 shares of the company’s stock worth $68,000 after acquiring an additional 1,628 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Dropbox by 1,150.2% during the first quarter. Brown Brothers Harriman & Co. now owns 5,226 shares of the company’s stock worth $122,000 after acquiring an additional 4,808 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

Insider Transactions at Dropbox

In other news, President Timothy H. Young sold 15,000 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $20.06, for a total transaction of $300,900.00. Following the completion of the transaction, the president now directly owns 1,554,623 shares of the company’s stock, valued at $31,185,737.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Timothy H. Young sold 15,000 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $20.06, for a total transaction of $300,900.00. Following the completion of the transaction, the president now directly owns 1,554,623 shares of the company’s stock, valued at $31,185,737.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $20.08, for a total value of $60,240.00. Following the transaction, the chief financial officer now directly owns 500,787 shares of the company’s stock, valued at $10,055,802.96. The disclosure for this sale can be found here. Insiders sold 510,260 shares of company stock valued at $10,794,532 over the last three months. Company insiders own 25.05% of the company’s stock.

Dropbox Trading Up 0.4 %

NASDAQ:DBX opened at $22.44 on Thursday. Dropbox, Inc. has a 1 year low of $19.07 and a 1 year high of $25.81. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 3.05 and a beta of 0.80. The stock has a 50-day moving average price of $21.38 and a two-hundred day moving average price of $21.79.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DBX shares. The Goldman Sachs Group dropped their price objective on Dropbox from $25.00 to $22.00 and set a “sell” rating for the company in a report on Monday, November 7th. Credit Suisse Group started coverage on Dropbox in a report on Monday. They issued an “underperform” rating and a $20.00 price objective for the company. KeyCorp started coverage on Dropbox in a report on Monday, September 12th. They issued an “overweight” rating and a $30.00 price objective for the company. Jefferies Financial Group dropped their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 31st. Finally, Citigroup started coverage on Dropbox in a report on Thursday, September 1st. They issued a “neutral” rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and a consensus price target of $26.63.

Dropbox Company Profile

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Dropbox, Inc provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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