Dropbox (NASDAQ:DBX) Insider Sells $430,645.96 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider William Yoon sold 12,382 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $34.78, for a total transaction of $430,645.96. Following the transaction, the insider owned 366,693 shares of the company’s stock, valued at approximately $12,753,582.54. This trade represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Trading Up 1.5%

Shares of Dropbox stock opened at $35.56 on Friday. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $36.37. The firm has a market capitalization of $8.03 billion, a PE ratio of 19.76, a P/E/G ratio of 5.16 and a beta of 0.65. The firm’s 50-day moving average price is $32.83 and its 200 day moving average price is $28.10.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $631.50 million during the quarter, compared to analyst estimates of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.Dropbox’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. On average, sell-side analysts predict that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in Dropbox by 2.8% in the 1st quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company’s stock valued at $46,530,000 after buying an additional 55,921 shares during the period. Arbejdsmarkedets Tillaegspension purchased a new position in Dropbox during the fourth quarter worth about $22,050,000. ING Groep NV purchased a new position in Dropbox during the fourth quarter worth about $1,223,000. Jupiter Asset Management Ltd. purchased a new position in Dropbox during the fourth quarter worth about $1,591,000. Finally, OP Asset Management Ltd acquired a new stake in shares of Dropbox during the first quarter valued at about $3,196,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

DBX has been the topic of several research reports. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup upped their price objective on shares of Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. William Blair upgraded shares of Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Zacks Research lowered shares of Dropbox from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Dropbox in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Dropbox presently has an average rating of “Reduce” and an average price target of $30.75.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

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