Profund Advisors LLC Sells 27,518 Shares of Dropbox, Inc. (NASDAQ:DBX)

Profund Advisors LLC lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 56.3% in the 2nd quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

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

Insider Activity

In related news, CEO Andrew Houston sold 82,000 shares of Dropbox 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 owns 8,266,666 shares of the company’s stock, valued at $185,173,318.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dropbox news, CFO Timothy Regan sold 13,000 shares of Dropbox stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,836,800.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $185,173,318.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,570 shares of company stock valued at $2,592,315. Company insiders own 26.40% of the company’s stock.

Wall Street Analysts Forecast Growth

DBX has been the subject of several recent analyst reports. 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. Citigroup lowered their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.67.

Dropbox Trading Down 0.4 %

Shares of Dropbox stock opened at $24.82 on Thursday. The firm’s 50 day simple moving average is $23.69 and its two-hundred day simple moving average is $23.24. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The firm had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. During the same period in the prior year, the firm earned $0.28 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

About Dropbox

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.