Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Dropbox, Inc. by 7.1%, selling 33,100 shares, and owning approximately 0.14% of the company worth $11.6 million post-sale.
• On August 8th, Dropbox reported earnings of $0.71 per share, surpassing analysts' estimates and generating $625.7 million in revenue, though down 1.4% year-over-year.
• Insider transactions include CEO Andrew Houston selling 319,000 shares for over $9 million, indicating a 3.72% decrease in his ownership stake.

Swiss National Bank cut its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,400 shares of the company's stock after selling 33,100 shares during the quarter. Swiss National Bank owned about 0.14% of Dropbox worth $11,603,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Dropbox during the 1st quarter worth approximately $647,000. Rehmann Capital Advisory Group purchased a new position in Dropbox during the 1st quarter worth approximately $675,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Dropbox by 8.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,761,252 shares of the company's stock worth $52,908,000 after buying an additional 137,916 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Dropbox by 31.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 39,526 shares of the company's stock worth $1,187,000 after buying an additional 9,570 shares during the last quarter. Finally, Commerce Bank raised its position in Dropbox by 94.9% during the 1st quarter. Commerce Bank now owns 203,052 shares of the company's stock worth $5,424,000 after buying an additional 98,867 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Up 0.3%

Shares of NASDAQ DBX traded up $0.09 during trading on Friday, hitting $27.82. The company had a trading volume of 3,517,253 shares, compared to its average volume of 3,213,328. The stock has a fifty day simple moving average of $27.70 and a two-hundred day simple moving average of $28.10. Dropbox, Inc. has a fifty-two week low of $22.43 and a fifty-two week high of $33.33. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 3.74 and a beta of 0.64.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The business had revenue of $625.70 million for the quarter, compared to analyst estimates of $618.60 million. During the same quarter last year, the business earned $0.60 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DBX. UBS Group reduced their price target on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Citigroup lifted their target price on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, May 9th.

Insider Buying and Selling at Dropbox

In other news, Director Karen Peacock sold 7,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total transaction of $199,710.00. Following the completion of the sale, the director owned 25,295 shares of the company's stock, valued at $721,666.35. This represents a 21.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $27.98, for a total transaction of $69,950.00. Following the sale, the chief financial officer directly owned 511,094 shares of the company's stock, valued at $14,300,410.12. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 450,598 shares of company stock worth $12,770,529 over the last three months. 29.95% of the stock is owned by corporate insiders.

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.