Nisa Investment Advisors LLC Decreases Stock Holdings in Dropbox, Inc. $DBX

Nisa Investment Advisors LLC reduced its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 17.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,653 shares of the company’s stock after selling 29,420 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.05% of Dropbox worth $4,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of DBX. Neo Ivy Capital Management purchased a new stake in shares of Dropbox during the 2nd quarter valued at $30,000. Geneos Wealth Management Inc. grew its position in Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after buying an additional 558 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Dropbox during the second quarter worth about $41,000. SJS Investment Consulting Inc. raised its position in Dropbox by 6,319.0% in the third quarter. SJS Investment Consulting Inc. now owns 1,348 shares of the company’s stock worth $41,000 after acquiring an additional 1,327 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Dropbox by 88.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $48,000 after acquiring an additional 787 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 101,167 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $30.23, for a total value of $3,058,278.41. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Ali Dasdan sold 5,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $29.19, for a total transaction of $165,390.54. Following the completion of the transaction, the chief technology officer owned 526,140 shares of the company’s stock, valued at $15,358,026.60. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 348,018 shares of company stock worth $10,093,774 in the last 90 days. 29.95% of the stock is owned by company insiders.

Dropbox Trading Down 0.7%

Dropbox stock opened at $27.28 on Monday. The firm has a 50 day simple moving average of $28.86 and a 200 day simple moving average of $28.76. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 2.23 and a beta of 0.62.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $634.40 million during the quarter, compared to analyst estimates of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. On average, equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DBX shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and lowered their target price for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Royal Bank Of Canada dropped their price target on Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.33.

Dropbox Profile

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.