Pacer Advisors Inc. Boosts Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Pacer Advisors Inc. raised its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,788,652 shares of the company’s stock after buying an additional 333,245 shares during the period. Pacer Advisors Inc. owned about 2.39% of Dropbox worth $198,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Dropbox during the third quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in Dropbox in the 3rd quarter valued at $31,000. GAMMA Investing LLC increased its holdings in Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after acquiring an additional 907 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Dropbox by 2,479.4% during the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,686 shares during the period. 94.84% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Andrew Houston sold 3,493 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $206,666,650. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now owns 321,871 shares in the company, valued at approximately $8,500,613.11. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 464,782 shares of company stock worth $11,673,797 in the last three months. 26.40% of the stock is owned by insiders.

Dropbox Stock Performance

DBX stock opened at $26.89 on Thursday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The stock’s fifty day moving average is $25.94 and its two-hundred day moving average is $23.96. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.49 and a beta of 0.61.

Analysts Set New Price Targets

Separately, UBS Group decreased their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.67.

Dropbox Profile

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.