ProShare Advisors LLC Has $287,000 Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

ProShare Advisors LLC decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,756 shares of the company’s stock after selling 1,013 shares during the quarter. ProShare Advisors LLC’s holdings in Dropbox were worth $287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in shares of Dropbox during the 1st quarter valued at $28,000. GAMMA Investing LLC grew its stake in shares of Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares during the period. Fifth Third Bancorp increased its holdings in Dropbox by 548.8% in the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after purchasing an additional 1,169 shares during the last quarter. Quarry LP bought a new position in Dropbox during the fourth quarter worth about $64,000. Finally, EntryPoint Capital LLC bought a new position in Dropbox during the first quarter worth about $65,000. 94.84% of the stock is owned by institutional investors.

Dropbox Stock Up 1.6 %

Shares of DBX stock opened at $25.53 on Friday. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 16.91, a P/E/G 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. The firm has a fifty day moving average of $23.90 and a 200-day moving average of $23.31.

Dropbox (NASDAQ:DBX) last released its quarterly 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. The firm had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. On average, equities analysts expect that Dropbox, Inc. will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DBX shares. Citigroup cut their price target on shares of 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 reduced their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two equities 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.67.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $24.35, for a total transaction of $60,875.00. Following the sale, the chief financial officer now directly owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the sale, the chief financial officer now owns 485,724 shares in the company, valued at approximately $11,827,379.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 351,306 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $207,658,649.92. The disclosure for this sale can be found here. Insiders have sold a total of 464,952 shares of company stock valued at $11,642,212 over the last 90 days. 26.40% of the stock is owned by corporate insiders.

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.