Insider Selling: Dropbox (NASDAQ:DBX) Director Sells 4,222 Shares of Stock

by · The Cerbat Gem

Dropbox, Inc. (NASDAQ:DBX – Get Free Report) Director Lisa Campbell sold 4,222 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.51, for a total transaction of $111,925.22. Following the completion of the transaction, the director owned 14,998 shares in the company, valued at $397,596.98. This represents a 21.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Trading Down 1.6%

DBX stock traded down $0.45 during trading on Tuesday, reaching $27.53. The stock had a trading volume of 4,028,469 shares, compared to its average volume of 3,994,343. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40. The company has a market capitalization of $6.42 billion, a P/E ratio of 15.04, a PEG ratio of 3.02 and a beta of 0.64. The firm has a fifty day moving average price of $24.55 and a 200 day moving average price of $26.41.

Dropbox (NASDAQ:DBX – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The firm had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. During the same quarter in the previous year, the business posted $0.70 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that Dropbox, Inc. will post 2.03 EPS for the current year.

Institutional Trading of Dropbox

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in Dropbox by 68.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock valued at $47,000 after purchasing an additional 831 shares during the period. California State Teachers Retirement System boosted its position in Dropbox by 18.4% during the 1st quarter. California State Teachers Retirement System now owns 206,493 shares of the company’s stock valued at $4,692,000 after purchasing an additional 32,041 shares during the period. Empowered Funds LLC boosted its position in Dropbox by 12.9% during the 1st quarter. Empowered Funds LLC now owns 116,220 shares of the company’s stock valued at $2,641,000 after purchasing an additional 13,244 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in Dropbox during the 1st quarter valued at approximately $266,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after purchasing an additional 960,109 shares during the period. Institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. dropped their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Royal Bank Of Canada boosted their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Citigroup lifted their target price on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $27.00.

Read Our Latest Report on DBX

About Dropbox

(Get Free Report)

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.

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