Caprock Group LLC Acquires New Holdings in Dropbox, Inc. $DBX

Caprock Group LLC bought a new stake in Dropbox, Inc. (NASDAQ:DBX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,861 shares of the company’s stock, valued at approximately $897,000.

Several other hedge funds also recently modified their holdings of DBX. Neo Ivy Capital Management acquired a new stake in shares of Dropbox in the 2nd quarter valued at $30,000. First Horizon Corp bought a new position in Dropbox during the third quarter valued at about $31,000. LRI Investments LLC lifted its position in shares of Dropbox by 666.7% in the third quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after acquiring an additional 558 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Dropbox during the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Up 0.9%

DBX stock opened at $24.53 on Monday. Dropbox, Inc. has a twelve month low of $23.63 and a twelve month high of $33.27. The company has a market cap of $6.35 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 2.00 and a beta of 0.63. The business’s 50-day simple moving average is $26.83 and its 200 day simple moving average is $28.44.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada reduced their target price on Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.33.

Insider Activity

In other news, CEO Andrew Houston sold 164,502 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $25.66, for a total value of $4,221,121.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sarah Elizabeth Schubach sold 1,168 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $26.84, for a total transaction of $31,349.12. Following the transaction, the chief accounting officer directly owned 92,702 shares of the company’s stock, valued at $2,488,121.68. The trade was a 1.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 465,889 shares of company stock worth $12,747,963. Company insiders own 28.59% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.