Nisa Investment Advisors LLC Increases Holdings in Dropbox, Inc. (NASDAQ:DBX)

Nisa Investment Advisors LLC lifted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 3,492.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 193,611 shares of the company's stock after purchasing an additional 188,222 shares during the quarter. Nisa Investment Advisors LLC owned about 0.06% of Dropbox worth $5,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in DBX. Banque Pictet & Cie SA acquired a new position in shares of Dropbox during the 1st quarter worth $346,000. Rehmann Capital Advisory Group acquired a new stake in shares of Dropbox in the first quarter worth approximately $675,000. DekaBank Deutsche Girozentrale increased its position in Dropbox by 5.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,875,968 shares of the company's stock worth $49,366,000 after purchasing an additional 95,205 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Dropbox by 36.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 255,407 shares of the company's stock worth $6,822,000 after purchasing an additional 67,805 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Dropbox by 177.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 109,549 shares of the company's stock worth $2,926,000 after purchasing an additional 70,023 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded down $0.51 during midday trading on Tuesday, hitting $26.58. The company's stock had a trading volume of 4,320,552 shares, compared to its average volume of 3,409,315. The business's 50 day simple moving average is $28.61 and its 200 day simple moving average is $28.66. Dropbox, Inc. has a 12-month low of $21.32 and a 12-month high of $33.33. The company has a market cap of $7.48 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 10.47 and a beta of 0.65.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The firm's revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 EPS. On average, sell-side analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group boosted their price objective on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup increased their price target on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th.

Insider Transactions at Dropbox

In other news, Director Lisa M. Campbell sold 5,239 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $151,616.66. Following the completion of the sale, the director directly owned 19,220 shares of the company's stock, valued at $556,226.80. This represents a 21.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ashraf Alkarmi sold 10,098 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.10, for a total value of $283,753.80. Following the sale, the insider directly owned 492,856 shares of the company's stock, valued at $13,849,253.60. This represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 463,625 shares of company stock valued at $13,155,055 over the last ninety days. 28.59% of the stock is currently owned by corporate insiders.

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.