Bart Volkmer Sells 6,682 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 6,682 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.12, for a total transaction of $154,487.84. Following the completion of the transaction, the insider now directly owns 372,332 shares of the company’s stock, valued at approximately $8,608,315.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bart Volkmer also recently made the following trade(s):

• On Friday, March 15th, Bart Volkmer sold 7,039 shares of Dropbox stock. The stock was sold at an average price of $24.02, for a total transaction of $169,076.78.

Dropbox Trading Down 0.2 %

Dropbox stock opened at $22.76 on Friday. The company has a market capitalization of $7.83 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.58 and a beta of 0.71. The firm’s fifty day simple moving average is $24.93 and its 200-day simple moving average is $27.49. Dropbox, Inc. has a 1-year low of $19.55 and a 1-year high of $33.43.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The firm had revenue of $635.00 million during the quarter, compared to analyst estimates of $630.77 million. On average, equities research analysts predict that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Institutional Trading of Dropbox

Several hedge funds and other institutional investors have recently bought and sold shares of DBX. GAMMA Investing LLC bought a new position in Dropbox during the 4th quarter valued at about $25,000. Contravisory Investment Management Inc. bought a new position in shares of Dropbox in the fourth quarter worth about $26,000. Sound Income Strategies LLC bought a new position in shares of Dropbox in the first quarter worth about $28,000. Harbour Investments Inc. bought a new position in shares of Dropbox in the fourth quarter worth about $29,000. Finally, Fifth Third Bancorp raised its stake in shares of Dropbox by 424.2% in the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after acquiring an additional 878 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DBX has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. Citigroup cut their target price on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $33.00 to $30.00 in a research report on Friday, February 16th. Finally, Bank of America downgraded shares of Dropbox from a “buy” rating to an “underperform” rating and cut their target price for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.78.

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.