DROPBOX INC DBX
CL A · Common Stock · CUSIP 26210C104 · ISIN US26210C1045
- SectorTechnology
- IndustryServices-Prepackaged Software
- HeadquartersSan Francisco, CA
- Founded2007
- Websitedropbox.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($37.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $28.60. Options: 22 managers hold calls ($268.6m notional), 22 hold puts ($122.6m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 430 |
| Q4 2022 | 449 |
| Q1 2023 | 425 |
| Q2 2023 | 449 |
| Q3 2023 | 464 |
| Q4 2023 | 462 |
| Q1 2024 | 446 |
| Q2 2024 | 431 |
| Q3 2024 | 426 |
| Q4 2024 | 456 |
| Q1 2025 | 460 |
| Q2 2025 | 471 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 201 | 231 |
| Q4 2023 | 197 | 223 |
| Q1 2024 | 201 | 248 |
| Q2 2024 | 189 | 256 |
| Q3 2024 | 196 | 224 |
| Q4 2024 | 208 | 204 |
| Q1 2025 | 210 | 236 |
| Q2 2025 | 237 | 221 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $286.9m | $107.0m | 0.37 |
| Q4 2024 | $324.0m | $102.7m | 0.32 |
| Q1 2025 | $239.9m | $124.6m | 0.52 |
| Q2 2025 | $268.6m | $122.6m | 0.46 |
Biggest buyers
| MORGAN STANLEY | Added | +1.8m |
| FMR LLC | Added | +1.5m |
| NORGES BANK | Added | +1.2m |
| ROYAL BANK OF CANADA | Added | +985.6k |
| LSV ASSET MANAGEMENT | Added | +775.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +605.3k |
| Quantinno Capital Management LP | Added | +465.1k |
| Allianz Asset Management GmbH | Added | +455.9k |
| GREAT LAKES ADVISORS, LLC | New | +451.7k |
| MILLENNIUM MANAGEMENT LLC | Added | +443.9k |
Biggest sellers
| AMERIPRISE FINANCIAL INC | Reduced | -9.4m |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -3.4m |
| Caisse de depot et placement du Quebec | Reduced | -1.8m |
| BlackRock, Inc. | Reduced | -1.8m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Sold out | -1.3m |
| D. E. Shaw & Co., Inc. | Reduced | -904.3k |
| STATE STREET CORP | Reduced | -866.1k |
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -733.4k |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -710.7k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Reduced | -694.3k |
Biggest calls
| UBS Group AG | Reduced | $201.3m7.0m shares |
| ROYAL BANK OF CANADA | Added | $20.6m721.2k shares |
| CITADEL ADVISORS LLC | Added | $6.5m226.3k shares |
| BANK OF AMERICA CORP /DE/ | New | $5.7m200.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.8m167.5k shares |
| CITIGROUP INC | New | $4.3m150.0k shares |
| Walleye Trading LLC | Reduced | $4.2m146.0k shares |
| IMC-Chicago, LLC | Reduced | $3.9m137.5k shares |
| PEAK6 LLC | Added | $3.2m111.4k shares |
| WOLVERINE TRADING, LLC | Added | $2.6m94.1k shares |
Biggest puts
| Twin Tree Management, LP | Reduced | $30.2m1.1m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $16.2m567.3k shares |
| ROYAL BANK OF CANADA | Added | $14.3m500.0k shares |
| Walleye Trading LLC | Reduced | $10.8m376.9k shares |
| CITADEL ADVISORS LLC | Added | $8.9m309.6k shares |
| Balyasny Asset Management L.P. | New | $7.9m275.0k shares |
| DLD Asset Management, LP | Reduced | $5.8m203.0k shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $5.0m173.7k shares |
| IMC-Chicago, LLC | Reduced | $4.5m158.4k shares |
| CITIGROUP INC | New | $4.3m150.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Houston Andrew 13G · exempt (held before listing) +7.0 pts · filed 2026-05-01 | 35.3% |
| BlackRock, Inc. 13G · institution filed 2025-04-23 | 10.1% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| LSV ASSET MANAGEMENT 13G · institution +1.3 pts · filed 2026-08-06 | 7.3% |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 13G · institution new · filed 2026-05-15 | 5.4% |
Fell to 5% or below in the last year: VANGUARD CAPITAL MANAGEMENT LLC (4.9%, 2026-07-31; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), RENAISSANCE TECHNOLOGIES LLC (4.6%, 2026-02-12)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 3 | $12.2m | $2.8m |
| Q4 2023 | 0 | — | 2 | $1.4m | $1.4m |
| Q1 2024 | 0 | — | 4 | $5.5m | $5.5m |
| Q2 2024 | 0 | — | 6 | $7.3m | $7.3m |
| Q3 2024 | 0 | — | 4 | $15.0m | $15.0m |
| Q4 2024 | 0 | — | 4 | $42.3m | $42.3m |
| Q1 2025 | 0 | — | 4 | $19.3m | $19.3m |
| Q2 2025 | 0 | — | 7 | $10.6m | $10.6m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-30 | Regan Timothy Chief Financial Officer | Sold plan | $71.0k2.5k shares |
| 2025-06-13 | Alkarmi Ashraf General Manager, Core | Sold plan | $283.8k10.1k shares |
| 2025-06-13 | Regan Timothy Chief Financial Officer | Sold plan | $70.2k2.5k shares |
| 2025-06-11 | Houston Andrew Chief Executive Officer, director · See Footnote | Sold plan | $9.1m319.0k shares |
| 2025-05-30 | Regan Timothy Chief Financial Officer | Sold plan | $72.0k2.5k shares |
| 2025-05-27 | Peacock Karen Director | Sold plan | $199.7k7.0k shares |
| 2025-05-16 | Yoon William T Chief Legal Officer | Sold plan | $157.7k5.4k shares |
| 2025-05-16 | Campbell Lisa M Director | Sold plan | $151.6k5.2k shares |
| 2025-05-16 | Cox Eric Chief Customer Officer | Sold plan | $67.7k2.3k shares |
| 2025-05-15 | Regan Timothy Chief Financial Officer | Sold plan | $73.8k2.5k shares |
| 2025-04-30 | Regan Timothy Chief Financial Officer | Sold plan | $70.7k2.5k shares |
| 2025-04-15 | Regan Timothy Chief Financial Officer | Sold plan | $67.3k2.5k shares |
| 2025-04-01 | Regan Timothy Chief Financial Officer | Sold plan | $270.0k10.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 25.3m $722.8m | Reduced -448.4k |
| BlackRock, Inc. 0.01% of their portfolio | 22.1m $631.0m | Reduced -1.8m |
| RENAISSANCE TECHNOLOGIES LLC 0.38% of their portfolio | 10.1m $288.9m | Reduced -415.1k |
| LSV ASSET MANAGEMENT 0.56% of their portfolio | 8.4m $240.5m | Added +775.0k |
| ACADIAN ASSET MANAGEMENT LLC 0.46% of their portfolio | 7.8m $224.0m | Reduced -710.7k |
| MORGAN STANLEY 0.01% of their portfolio | 7.5m $214.3m | Added +1.8m |
| AMERIPRISE FINANCIAL INC 0.05% of their portfolio | 6.7m $192.3m | Reduced -9.4m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.13% of their portfolio | 6.7m $190.5m | Added +605.3k |
| STATE STREET CORP 0.01% of their portfolio | 6.6m $188.4m | Reduced -866.1k |
| FMR LLC 0.01% of their portfolio | 5.7m $163.0m | Added +1.5m |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.56% of their portfolio | 5.0m $143.7m | Reduced -694.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.3m $123.3m | Reduced -315.8k |
| UBS Group AG 0.02% of their portfolio | 3.7m $105.0m | Reduced -247.6k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 2.8m $80.4m | Added +71.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 2.6m $75.0m | Reduced -328.3k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.6m $74.8m | Reduced -283.5k |
| Pacer Advisors, Inc. 0.18% of their portfolio | 2.5m $71.6m | Reduced -378.2k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.3m $65.8m | Reduced -5.3k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 2.3m $65.5m | Added +985.6k |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 2.3m $64.3m | Reduced -523.1k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 1.14% of their portfolio | 2.2m $63.7m | Added +86.5k |
| Russell Investments Group, Ltd. 0.08% of their portfolio | 2.1m $60.4m | Added +268.4k |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 2.1m $60.5m | Reduced -264.8k |
| Robeco Institutional Asset Management B.V. 0.09% of their portfolio | 2.0m $57.3m | Reduced -145.8k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.39% of their portfolio | 2.0m $56.9m | Reduced -18.3k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.9m $55.1m | Reduced -288.4k |
| BARCLAYS PLC 0.02% of their portfolio | 1.9m $54.5m | Added +18.6k |
| SEIZERT CAPITAL PARTNERS, LLC 2.39% of their portfolio | 1.9m $54.5m | Added +25.7k |
| NORGES BANK 0.01% of their portfolio | 1.8m $51.3m | Added +1.2m |
| DekaBank Deutsche Girozentrale 0.09% of their portfolio | 1.8m $50.1m | Reduced -95.2k |
| KBC Group NV 0.13% of their portfolio | 1.6m $47.1m | Reduced -101.1k |
| Allianz Asset Management GmbH 0.05% of their portfolio | 1.4m $41.1m | Added +455.9k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 1.4m $39.4m | Added +435.7k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.2m $35.2m | Added +81.3k |
| Quantinno Capital Management LP 0.15% of their portfolio | 1.2m $33.7m | Added +465.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.1m $32.2m | Added +166.2k |
| Man Group plc 0.07% of their portfolio | 1.1m $32.1m | Added +52.0k |
| Mitsubishi UFJ Trust & Banking Corp 0.07% of their portfolio | 1.1m $31.9m | Added +255.3k |
| MACKENZIE FINANCIAL CORP 0.04% of their portfolio | 1.1m $31.0m | Added +60.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.1m $30.7m | Reduced -81.3k |
| SEI INVESTMENTS CO 0.03% of their portfolio | 1.0m $28.8m | Added +123.3k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 975.0k $27.9m | Added +154.9k |
| Retirement Systems of Alabama 0.09% of their portfolio | 879.3k $25.1m | Reduced -23.6k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 871.7k $24.9m | Added +443.9k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 821.6k $23.5m | Reduced -38.4k |
| Invesco Ltd. 0.00% of their portfolio | 816.3k $23.3m | Added +45.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 763.4k $21.8m | Added +47.0k |
| KLP KAPITALFORVALTNING AS 0.09% of their portfolio | 742.3k $21.2m | Reduced -700 |
| California Public Employees Retirement System 0.01% of their portfolio | 731.7k $20.9m | Added +333.1k |
| Glenmede Investment Management, LP 0.10% of their portfolio | 688.2k $19.7m | First filing |
| Gotham Asset Management, LLC 0.11% of their portfolio | 660.0k $18.9m | Added +283.4k |
| Caisse de depot et placement du Quebec 0.04% of their portfolio | 650.7k $18.6m | Reduced -1.8m |
| GROUPAMA ASSET MANAGMENT 0.01% of their portfolio | 600.0k $603.1k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 576.4k $16.5m | Reduced -653.7k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 568.1k $16.2m | Reduced -46.4k |
| Nuveen, LLC 0.00% of their portfolio | 567.8k $16.2m | Reduced -306.4k |
| Engineers Gate Manager LP 0.18% of their portfolio | 510.9k $14.6m | Added +390.5k |
| GREAT LAKES ADVISORS, LLC 0.11% of their portfolio | 451.7k $12.9m | New |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 449.8k $12.9m | Reduced -44.5k |
| Distillate Capital Partners LLC 0.69% of their portfolio | 447.4k $12.8m | Reduced -22.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 445.7k $12.7m | Reduced -54.4k |
| Legal & General Group Plc 0.00% of their portfolio | 442.4k $12.7m | Reduced -29.4k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.02% of their portfolio | 442.3k $12.7m | Reduced -35.8k |
| Swiss National Bank 0.01% of their portfolio | 387.4k $11.1m | Reduced -47.0k |
| CITIGROUP INC 0.01% of their portfolio | 380.9k $10.9m | Added +76.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 379.4k $10.9m | Reduced -733.4k |
| Treasurer of the State of North Carolina 0.03% of their portfolio | 372.0k $10.6m | Added +172.7k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 352.3k $10.1m | New |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 332.7k $9.5m | Reduced -3.4m |
| UniSuper Management Pty Ltd 0.06% of their portfolio | 320.2k $9.2m | Added +244.3k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 319.7k $9.1m | Reduced -70.4k |
| AXA S.A. 0.03% of their portfolio | 315.5k $9.0m | Reduced -103.0k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 306.6k $8.8m | Reduced -27.7k |
| Bridgewater Associates, LP 0.03% of their portfolio | 288.1k $8.2m | Reduced -253.4k |
| MERITAGE PORTFOLIO MANAGEMENT 0.51% of their portfolio | 283.2k $8.1m | Reduced -17.1k |
| PANAGORA ASSET MANAGEMENT INC 0.04% of their portfolio | 271.6k $7.8m | Added +249 |
| COMERICA BANK 0.03% of their portfolio | 266.9k $7.6m | Added +15.9k |
| Verition Fund Management LLC 0.04% of their portfolio | 259.1k $7.4m | Added +200.3k |
| Illinois Municipal Retirement Fund 0.10% of their portfolio | 254.6k $7.3m | Added +73.9k |
| Crossmark Global Holdings, Inc. 0.12% of their portfolio | 251.8k $7.2m | Reduced -3.6k |
| COMMERCE BANK 0.04% of their portfolio | 242.4k $6.9m | Added +39.3k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 223.7k $6.4m | Added +750 |
| IEQ CAPITAL, LLC 0.04% of their portfolio | 223.4k $6.4m | Added +13.2k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 221.8k $6.3m | Reduced -136.2k |
| Amundi 0.00% of their portfolio | 218.2k $6.0m | Reduced -225.9k |
| CEERA INVESTMENTS, LLC 1.87% of their portfolio | 213.9k $6.1m | Reduced -5.0k |
| Vestcor Inc 0.18% of their portfolio | 208.3k $6.0m | Added +400 |
| ALGERT GLOBAL LLC 0.12% of their portfolio | 200.0k $5.7m | Reduced -92.9k |
| Livforsakringsbolaget Skandia, Omsesidigt 0.25% of their portfolio | 197.2k $5.6m | Added +40.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 190.5k $5.4m | Reduced -29.4k |
| INTECH INVESTMENT MANAGEMENT LLC 0.05% of their portfolio | 187.8k $5.4m | Reduced -13.0k |
| CWM, LLC 0.02% of their portfolio | 185.9k $5.3m | Added +105.5k |
| ZACKS INVESTMENT MANAGEMENT 0.04% of their portfolio | 177.2k $5.1m | Added +1.4k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 172.8k $4.9m | Reduced -66.8k |
| NISA INVESTMENT ADVISORS, LLC 0.02% of their portfolio | 171.1k $4.9m | Reduced -22.5k |
| Campbell & CO Investment Adviser LLC 0.31% of their portfolio | 170.7k $4.9m | Added +162.0k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.13% of their portfolio | 166.2k $4.8m | Reduced -267.8k |
| Ensign Peak Advisors, Inc 0.01% of their portfolio | 164.6k $4.7m | Added +29.7k |
| State of Alaska, Department of Revenue 0.05% of their portfolio | 158.9k $4.5m | Reduced -3.3k |
| National Philanthropic Trust 0.06% of their portfolio | 158.2k $4.5m | Unchanged |