Billionaire Ken Griffin is Selling These 5 Stocks

4. Dropbox, Inc. (NASDAQ:DBX)

Number of Hedge Fund Holders: 39

Dropbox, Inc. (NASDAQ:DBX) is an American software company that offers cloud storage, file synchronization, and personal cloud to its users. In Q3, the company reported a 12% year-over-year growth in its accounting rate of return at $2.21 billion. Moreover, paying users also increased to 16.49 million, up from 15.25 million during the same period last year.

Recently, Jefferies Financial lifted its price target on Dropbox, Inc. (NASDAQ:DBX) to $40, while keeping a Buy rating on the shares. Since the beginning of the year, the stock gained 13.5%, while its 12-month returns stood at 30.9%. In Q3, Dropbox, Inc. (NASDAQ:DBX) is not included in Ken Griffin’s portfolio.

With roughly 10 million shares, Renaissance Technologies is the leading shareholder of Dropbox, Inc. (NASDAQ:DBX) in Q3. Overall, 39 hedge funds tracked in Insider Monkey’s database were bullish on the company in Q2, up from 31 in the previous quarter. The total value of these stakes is over $929.4 million, compared with $775.8 million in the previous quarter.