Mercer Global Advisors Inc. ADV Sells 5,364 Shares of Dropbox, Inc. (NASDAQ:DBX)

Mercer Global Advisors Inc. ADV cut its holdings in Dropbox, Inc. (NASDAQ:DBX) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,785 shares of the company’s stock after selling 5,364 shares during the period. Mercer Global Advisors Inc. ADV owned about 0.06% of Dropbox worth $4,399,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Dropbox by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after purchasing an additional 105,250 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Dropbox by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after buying an additional 506,200 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Dropbox by 0.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock valued at $113,485,000 after buying an additional 32,600 shares during the last quarter. LSV Asset Management grew its stake in shares of Dropbox by 9.2% in the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after buying an additional 314,862 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Dropbox by 18.7% during the first quarter. Acadian Asset Management LLC now owns 3,279,401 shares of the company’s stock worth $79,664,000 after buying an additional 517,052 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

DBX has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. UBS Group reduced their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and a consensus target price of $28.67.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 13,000 shares of the 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 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 can be accessed through this link. In related news, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 13,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.33, for a total value of $290,290.00. Following the sale, the chief financial officer now directly owns 538,122 shares in the company, valued at approximately $12,016,264.26. The disclosure for this sale can be found here. Insiders sold 107,900 shares of company stock worth $2,425,565 in the last ninety days. 26.40% of the stock is owned by company insiders.

Dropbox Stock Performance

NASDAQ DBX opened at $24.70 on Friday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The stock has a market cap of $8.16 billion, a PE ratio of 16.36, a P/E/G ratio of 1.51 and a beta of 0.61. The firm has a 50-day moving average of $23.58 and a 200-day moving average of $23.23.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data 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 negative return on equity of 161.78% and a net margin of 23.06%. The company had revenue of $634.50 million during the quarter, compared to analysts’ expectations of $630.10 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

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.