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

Pacer Advisors Inc. raised its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 2.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,047,966 shares of the company’s stock after buying an additional 55,921 shares during the period. Pacer Advisors Inc. owned about 0.88% of Dropbox worth $46,530,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Dropbox by 49.8% in the first quarter. Parallel Advisors LLC now owns 8,634 shares of the company’s stock worth $196,000 after buying an additional 2,869 shares during the last quarter. NewEdge Advisors LLC raised its position in Dropbox by 1,879.3% during the first quarter. NewEdge Advisors LLC now owns 16,468 shares of the company’s stock valued at $374,000 after acquiring an additional 15,636 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Dropbox by 68.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock valued at $47,000 after acquiring an additional 831 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Dropbox by 18.4% in the first quarter. California State Teachers Retirement System now owns 206,493 shares of the company’s stock valued at $4,692,000 after acquiring an additional 32,041 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Dropbox by 12.9% in the first quarter. Empowered Funds LLC now owns 116,220 shares of the company’s stock valued at $2,641,000 after acquiring an additional 13,244 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Activity at Dropbox

In other news, CAO Sarah Elizabeth Schubach sold 1,305 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $27.11, for a total value of $35,378.55. Following the completion of the sale, the chief accounting officer directly owned 127,204 shares in the company, valued at $3,448,500.44. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Peacock sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.00, for a total transaction of $66,000.00. Following the completion of the transaction, the director directly owned 22,366 shares in the company, valued at approximately $738,078. This represents a 8.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 129,313 shares of company stock worth $3,513,542 over the last 90 days. Corporate insiders own 35.48% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dropbox Price Performance

Shares of Dropbox stock opened at $33.05 on Tuesday. The stock has a market capitalization of $7.71 billion, a P/E ratio of 18.06, a PEG ratio of 3.57 and a beta of 0.64. The business has a 50 day simple moving average of $28.42 and a two-hundred day simple moving average of $26.23. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $33.67.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (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 firm had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. During the same period in the previous year, the company posted $0.70 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

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.