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

Nisa Investment Advisors LLC lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 10.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,389 shares of the company’s stock after buying an additional 490 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Dropbox were worth $162,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DBX. Capital Performance Advisors LLP acquired a new position in shares of Dropbox in the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the third quarter worth $31,000. Quarry LP lifted its position in shares of Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after buying an additional 880 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after buying an additional 1,686 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Dropbox by 133.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after buying an additional 1,650 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.50.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $61,535.30. Following the completion of the sale, the insider now owns 321,871 shares of the company’s stock, 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 have sold a total of 900,068 shares of company stock worth $26,648,755 over the last ninety days. 26.40% of the stock is currently owned by corporate insiders.

Dropbox Stock Down 0.8 %

Dropbox stock opened at $32.13 on Friday. The firm has a 50-day moving average price of $29.87 and a two-hundred day moving average price of $26.55. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.58 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The business had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. During the same period last year, the company earned $0.35 earnings per share. Research analysts expect that Dropbox, Inc. will post 1.49 earnings per share for the current year.

Dropbox Company 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.