Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 95.6% in the 2nd quarter, Holdings Channel reports. The fund owned 5,669 shares of the company’s stock after selling 123,299 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Dropbox were worth $127,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DBX. Vanguard Group Inc. raised its holdings in shares of Dropbox by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after acquiring an additional 105,250 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Dropbox by 0.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock worth $113,485,000 after purchasing an additional 32,600 shares during the last quarter. LSV Asset Management raised its stake in Dropbox by 3.7% during the first quarter. LSV Asset Management now owns 3,427,430 shares of the company’s stock worth $83,287,000 after purchasing an additional 121,700 shares during the period. Acadian Asset Management LLC boosted its holdings in Dropbox by 18.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,279,401 shares of the company’s stock valued at $79,664,000 after purchasing an additional 517,052 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Dropbox by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock valued at $88,151,000 after buying an additional 98,568 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Up 1.7 %

NASDAQ:DBX opened at $24.33 on Monday. The company has a market capitalization of $8.03 billion, a PE ratio of 16.11, a P/E/G ratio of 1.61 and a beta of 0.65. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The stock’s 50 day moving average price is $22.67 and its 200 day moving average price is $23.55.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The firm had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. During the same quarter in the prior year, the firm earned $0.28 EPS. Dropbox’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Dropbox, Inc. will post 1.26 EPS for the current fiscal year.

Analyst Ratings Changes

DBX has been the subject of a number of research analyst reports. Citigroup lowered their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. UBS Group decreased their price target 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 research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox currently has an average rating of “Hold” and an average price target of $29.14.

Insider Activity at Dropbox

In other news, Director Karen Peacock sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $23.02, for a total value of $230,200.00. Following the transaction, the director now owns 23,852 shares of the company’s stock, valued at $549,073.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $23.12, for a total transaction of $69,360.00. Following the completion of the transaction, the chief financial officer now directly owns 554,122 shares of the company’s stock, valued at $12,811,300.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Peacock sold 10,000 shares of Dropbox stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $23.02, for a total value of $230,200.00. Following the completion of the sale, the director now directly owns 23,852 shares in the company, valued at approximately $549,073.04. The disclosure for this sale can be found here. Insiders have sold 208,536 shares of company stock worth $4,672,611 in the last quarter. Company insiders own 26.40% of the company’s stock.

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.