Dropbox, Inc. $DBX Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 2.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,047,966 shares of the company’s stock after acquiring an additional 55,921 shares during the quarter. Pacer Advisors Inc.’s holdings in Dropbox were worth $46,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. LSV Asset Management increased its stake in shares of Dropbox by 1.1% in the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock worth $326,251,000 after acquiring an additional 121,999 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after acquiring an additional 960,109 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Dropbox by 1.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after acquiring an additional 70,867 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Dropbox by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after acquiring an additional 596,440 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Dropbox by 22.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after purchasing an additional 463,258 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

Dropbox stock opened at $33.05 on Tuesday. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $33.67. The firm has a 50 day moving average price of $28.42 and a 200 day moving average price of $26.23. The company has a market capitalization of $7.71 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 3.57 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company had revenue of $629.50 million for the quarter, compared to analysts’ expectations of $620.56 million. During the same period in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Insider Transactions at Dropbox

In related news, CAO Sarah Elizabeth Schubach sold 1,305 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $27.11, for a total transaction of $35,378.55. Following the completion of the transaction, the chief accounting officer directly owned 127,204 shares in the company, valued at $3,448,500.44. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew William Moore sold 8,443 shares of Dropbox stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.57, for a total value of $232,773.51. Following the completion of the transaction, the director directly owned 4,737 shares of the company’s stock, valued at approximately $130,599.09. This represents a 64.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 129,313 shares of company stock worth $3,513,542. 35.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Citigroup boosted their target price on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a report on Friday. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $27.00.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.