Dropbox (NASDAQ:DBX) Stock Picked Up by Analysts at Stephens

Equities research analysts at Stephens started coverage on shares of Dropbox (NASDAQ:DBX) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The firm set an “equal weight” rating and a $39.00 price target on the stock. Stephens‘s price target indicates a potential upside of 9.43% from the company’s previous close.

A number of other equities analysts also recently weighed in on DBX. Zacks Research upgraded shares of Dropbox from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Bank of America reiterated an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. William Blair raised shares of Dropbox from an “underperform” rating to a “market perform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $42.00 price objective on shares of Dropbox in a research note on Thursday, September 3rd. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $31.60.

Dropbox Stock Performance

DBX opened at $35.64 on Tuesday. The business’s 50-day simple moving average is $35.27 and its 200 day simple moving average is $29.07. Dropbox has a 52-week low of $21.69 and a 52-week high of $38.22. The firm has a market capitalization of $8.04 billion, a PE ratio of 19.74, a PEG ratio of 5.38 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%. The firm had revenue of $631.50 million during the quarter, compared to the consensus estimate of $626.69 million. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, research analysts forecast that Dropbox will post 1.94 earnings per share for the current year.

Insider Activity at Dropbox

In other Dropbox news, CFO Ross Tennenbaum sold 97,558 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $35.02, for a total transaction of $3,416,481.16. Following the completion of the sale, the chief financial officer owned 690,666 shares of the company’s stock, valued at $24,187,123.32. This trade represents a 12.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William T. Yoon sold 12,382 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $34.78, for a total value of $430,645.96. Following the sale, the insider directly owned 366,693 shares of the company’s stock, valued at $12,753,582.54. This represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 947,468 shares of company stock worth $32,809,905 in the last three months. 35.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dropbox

Several large investors have recently modified their holdings of DBX. Elevation Wealth Partners LLC boosted its holdings in shares of Dropbox by 63.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,363 shares of the company’s stock worth $46,000 after buying an additional 527 shares during the period. EverSource Wealth Advisors LLC grew its stake in Dropbox by 68.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock valued at $47,000 after buying an additional 831 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Dropbox by 166.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,617 shares of the company’s stock valued at $89,000 after acquiring an additional 1,635 shares during the period. Signaturefd LLC raised its holdings in Dropbox by 103.4% in the 3rd quarter. Signaturefd LLC now owns 5,616 shares of the company’s stock valued at $190,000 after acquiring an additional 2,855 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Dropbox by 49.8% in the 1st quarter. Parallel Advisors LLC now owns 8,634 shares of the company’s stock valued at $196,000 after acquiring an additional 2,869 shares during the period. 94.84% of the stock is owned by institutional investors.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.

The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.