Dropbox, Inc. (NASDAQ:DBX) Insider William T. Yoon Sells 5,449 Shares

Dropbox, Inc. (NASDAQ:DBX) insider William T. Yoon sold 5,449 shares of Dropbox stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $157,694.06. Following the completion of the transaction, the insider now owns 245,837 shares of the company’s stock, valued at approximately $7,114,522.78. The trade was a 2.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Dropbox Trading Down 0.7%

DBX traded down $0.21 during trading on Monday, reaching $28.70. 3,371,713 shares of the company were exchanged, compared to its average volume of 3,610,591. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The firm has a 50 day moving average of $27.43 and a 200 day moving average of $28.68. The stock has a market cap of $8.08 billion, a P/E ratio of 20.35, a PEG ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last posted its 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 firm had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Dropbox’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of Dropbox

Several large investors have recently added to or reduced their stakes in DBX. Wedge Capital Management L L P NC grew its position in Dropbox by 1,640.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company’s stock valued at $57,187,000 after buying an additional 2,017,997 shares in the last quarter. Seizert Capital Partners LLC boosted its stake in Dropbox by 524.8% during the 1st quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company’s stock valued at $50,198,000 after purchasing an additional 1,578,566 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after purchasing an additional 1,440,887 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Dropbox by 291.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company’s stock worth $54,007,000 after buying an additional 1,338,234 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Dropbox by 24.0% in the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock valued at $193,641,000 after buying an additional 1,245,563 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DBX shares. Citigroup raised their price objective on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. UBS Group lifted their price target on shares of Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 9th.

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.