Pacer Advisors Inc. Acquires 333,245 Shares of Dropbox, Inc. (NASDAQ:DBX)

Pacer Advisors Inc. lifted its stake in Dropbox, Inc. (NASDAQ:DBX) by 4.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,788,652 shares of the company’s stock after buying an additional 333,245 shares during the period. Pacer Advisors Inc.’s holdings in Dropbox were worth $198,065,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DBX. Blair William & Co. IL bought a new position in shares of Dropbox during the 1st quarter valued at about $596,000. Vanguard Group Inc. raised its stake in shares of Dropbox by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after acquiring an additional 105,250 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Dropbox by 94.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,700 shares of the company’s stock valued at $90,000 after acquiring an additional 1,800 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Dropbox by 10.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 435,928 shares of the company’s stock worth $10,591,000 after buying an additional 41,680 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Dropbox in the first quarter worth approximately $65,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Dropbox Stock Performance

Dropbox 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 firm has a 50 day moving average price of $25.94 and a 200 day moving average price of $23.96. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.49 and a beta of 0.61.

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $27.17, for a total value of $67,925.00. Following the sale, the chief financial officer now directly owns 436,264 shares of the company’s stock, valued at $11,853,292.88. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the sale, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 464,782 shares of company stock worth $11,673,797. 26.40% of the stock is owned by company insiders.

About Dropbox

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.