Dropbox (NASDAQ:DBX) Director Sells $111,925.22 in Stock

Dropbox, Inc. (NASDAQ:DBX) Director Lisa Campbell sold 4,222 shares of Dropbox stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.51, for a total value of $111,925.22. Following the sale, the director directly owned 14,998 shares of the company’s stock, valued at approximately $397,596.98. The trade was a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Trading Down 1.1%

NASDAQ:DBX opened at $27.25 on Friday. The stock has a market cap of $6.36 billion, a P/E ratio of 14.89, a PEG ratio of 3.11 and a beta of 0.64. The stock has a 50 day simple moving average of $24.60 and a 200 day simple moving average of $26.38. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.70 EPS. As a group, sell-side analysts forecast that Dropbox, Inc. will post 2.03 EPS for the current year.

Hedge Funds Weigh In On Dropbox

A number of hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC increased its stake in Dropbox by 20.6% during the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after acquiring an additional 403 shares during the period. Parallel Advisors LLC increased its stake in shares of Dropbox by 8.3% in the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after purchasing an additional 440 shares during the last quarter. Lakewood Asset Management LLC increased its stake in shares of Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after purchasing an additional 458 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Dropbox by 1.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock valued at $730,000 after purchasing an additional 466 shares during the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Dropbox by 4.4% in the 3rd quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock valued at $344,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup raised their price objective on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. William Blair restated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Finally, Royal Bank Of Canada raised their price objective on Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $27.00.

Dropbox Company 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.