Andrew William Moore Sells 8,443 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Andrew William Moore sold 8,443 shares of Dropbox stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.57, for a total value of $232,773.51. Following the transaction, the director owned 4,737 shares in the company, valued at approximately $130,599.09. This represents a 64.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Down 1.1%

NASDAQ DBX opened at $27.25 on Friday. The business’s fifty day simple moving average is $24.60 and its 200-day simple moving average is $26.38. The firm has a market cap of $6.36 billion, a PE ratio of 14.89, a P/E/G ratio of 3.11 and a beta of 0.64. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $32.40.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DBX shares. JPMorgan Chase & Co. cut their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. William Blair reissued an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. UBS Group cut their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Citigroup raised their price objective on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $27.00.

Hedge Funds Weigh In On Dropbox

Several institutional investors have recently bought and sold shares of DBX. Rossby Financial LCC grew its position in Dropbox by 128.5% in the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after acquiring an additional 527 shares in the last quarter. Palisade Asset Management LLC acquired a new position in Dropbox in the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC acquired a new position in Dropbox in the 4th quarter valued at about $31,000. Larson Financial Group LLC grew its position in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after acquiring an additional 791 shares in the last quarter. Finally, LRI Investments LLC grew its position in Dropbox by 666.7% in the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

About Dropbox

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.