Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 70.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,570 shares of the company’s stock after selling 68,908 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Dropbox were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. QRG Capital Management Inc. increased its holdings in Dropbox by 10.6% in the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after purchasing an additional 21,190 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Dropbox during the third quarter worth $482,000. Charles Schwab Investment Management Inc. grew its stake in shares of Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Dropbox by 6.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares during the period. Finally, IVY Lane Capital Management LLC acquired a new position in Dropbox during the 3rd quarter worth about $3,179,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 66,064 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $206,666,650. The trade was a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 3,177 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $79,425.00. Following the completion of the sale, the chief financial officer now directly owns 481,747 shares in the company, valued at approximately $12,043,675. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 731,781 shares of company stock valued at $19,456,607 in the last ninety days. Company insiders own 26.40% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $29.77 on Friday. The company has a market cap of $9.22 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.68 and a beta of 0.63. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The stock has a 50-day moving average of $27.22 and a two-hundred day moving average of $24.57.

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.