Dropbox, Inc. $DBX Position Trimmed by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,992,045 shares of the company’s stock after selling 152,718 shares during the period. Pacer Advisors Inc.’s holdings in Dropbox were worth $55,379,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DBX. LSV Asset Management grew its position in shares of Dropbox by 1.1% during the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock valued at $326,251,000 after buying an additional 121,999 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Dropbox by 11.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,573,627 shares of the company’s stock worth $210,547,000 after acquiring an additional 767,119 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Dropbox by 1.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock worth $153,935,000 after acquiring an additional 70,867 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Dropbox by 28.1% in the fourth 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 period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in 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 acquiring an additional 463,258 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Insider Activity at Dropbox

In other news, CAO Sarah Elizabeth Schubach sold 1,306 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $26.90, for a total value of $35,131.40. Following the completion of the sale, the chief accounting officer directly owned 128,509 shares of the company’s stock, valued at approximately $3,456,892.10. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William T. Yoon sold 7,230 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.57, for a total transaction of $199,331.10. Following the completion of the transaction, the insider owned 366,963 shares of the company’s stock, valued at $10,117,169.91. This trade represents a 1.93% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 239,774 shares of company stock worth $6,005,653 in the last three months. Insiders own 35.48% of the company’s stock.

Dropbox Stock Performance

Shares of DBX opened at $25.97 on Friday. Dropbox, Inc. has a one year low of $21.69 and a one year high of $32.40. The stock’s fifty day moving average is $25.90 and its 200-day moving average is $26.01. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 2.84 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 earnings per share. Analysts forecast that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

DBX has been the topic of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup increased their target price on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, UBS Group cut their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research note on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Dropbox presently has a consensus rating of “Reduce” and a consensus price target 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.