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

Nisa Investment Advisors LLC boosted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Dropbox by 0.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock worth $2,267,000 after purchasing an additional 383 shares during the last quarter. Quarry LP raised its holdings in shares of Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after acquiring an additional 459 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock valued at $305,000 after acquiring an additional 461 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Dropbox by 13.2% during the third quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company’s stock valued at $202,000 after acquiring an additional 926 shares during the last quarter. Finally, Covestor Ltd raised its stake in Dropbox by 34.3% in the 3rd quarter. Covestor Ltd now owns 4,043 shares of the company’s stock valued at $102,000 after purchasing an additional 1,033 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $28.12, for a total value of $3,711,840.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $232,458,647.92. This trade represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $27.17, for a total transaction of $67,925.00. Following the transaction, the chief financial officer now directly owns 436,264 shares in the company, valued at approximately $11,853,292.88. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 900,068 shares of company stock worth $26,648,755. Corporate insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Dropbox Stock Down 0.8 %

Shares of DBX opened at $32.13 on Friday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The company’s fifty day moving average is $29.87 and its two-hundred day moving average is $26.55. The firm has a market cap of $9.95 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.16). The firm had revenue of $638.80 million for the quarter, compared to analyst estimates of $636.93 million. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.49 earnings per share for the current year.

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.