Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Profund Advisors LLC

Profund Advisors LLC cut its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 56.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,339 shares of the company's stock after selling 27,518 shares during the quarter. Profund Advisors LLC's holdings in Dropbox were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in Dropbox by 63.0% in the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company's stock worth $167,523,000 after buying an additional 2,881,981 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Dropbox by 18.1% during the second quarter. Canada Pension Plan Investment Board now owns 287,300 shares of the company's stock worth $6,456,000 after acquiring an additional 44,000 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Dropbox by 24.3% in the second quarter. Intech Investment Management LLC now owns 97,137 shares of the company's stock worth $2,183,000 after acquiring an additional 18,960 shares in the last quarter. XTX Topco Ltd purchased a new position in Dropbox in the second quarter valued at about $1,017,000. Finally, Hsbc Holdings PLC grew its stake in Dropbox by 4.5% during the 2nd quarter. Hsbc Holdings PLC now owns 240,185 shares of the company's stock valued at $5,348,000 after purchasing an additional 10,385 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 82,000 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.40, for a total value of $1,836,800.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Dropbox news, CFO Timothy Regan sold 13,000 shares of the business's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.33, for a total transaction of $290,290.00. Following the completion of the transaction, the chief financial officer now owns 538,122 shares in the company, valued at approximately $12,016,264.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Houston sold 82,000 shares of the company's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at approximately $185,173,318.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,570 shares of company stock worth $2,592,315. 26.40% of the stock is currently owned by company insiders.

Dropbox Stock Performance

Shares of NASDAQ DBX traded up $0.16 during trading on Thursday, reaching $24.98. The stock had a trading volume of 2,290,083 shares, compared to its average volume of 3,876,861. The stock has a market cap of $8.13 billion, a PE ratio of 16.54, a P/E/G ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The firm's 50 day moving average price is $23.72 and its two-hundred day moving average price is $23.26.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. During the same period last year, the firm posted $0.28 EPS. The company's revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DBX. Citigroup cut their target price on Dropbox from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 26th. UBS Group cut their price target on shares of Dropbox from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.67.

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.