Dropbox Inc (NASDAQ:DBX) General Counsel Bart Volkmer sold 4,306 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $23.25, for a total value of $100,114.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Tuesday, November 20th, Bart Volkmer sold 4,303 shares of Dropbox stock. The shares were sold at an average price of $21.00, for a total value of $90,363.00.
  • On Friday, September 21st, Bart Volkmer sold 8,606 shares of Dropbox stock. The shares were sold at an average price of $26.58, for a total value of $228,747.48.

Shares of NASDAQ DBX remained flat at $$22.42 during midday trading on Thursday. The stock had a trading volume of 3,413,444 shares, compared to its average volume of 4,622,930. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. Dropbox Inc has a one year low of $19.54 and a one year high of $43.50.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, November 8th. The company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.07). Dropbox had a negative return on equity of 158.23% and a negative net margin of 38.83%. The business had revenue of $360.30 million for the quarter, compared to the consensus estimate of $352.74 million. The company’s quarterly revenue was up 25.7% on a year-over-year basis. On average, research analysts expect that Dropbox Inc will post -1.06 EPS for the current year.

A number of research analysts have weighed in on the company. Jefferies Financial Group raised their price target on Dropbox to $37.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded Dropbox from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Monday, August 13th. JMP Securities lifted their target price on Dropbox from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Canaccord Genuity lifted their target price on Dropbox from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, Royal Bank of Canada upgraded Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research note on Friday, August 10th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Dropbox currently has a consensus rating of “Buy” and an average target price of $33.93.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in Dropbox by 41.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,914 shares of the company’s stock valued at $581,000 after purchasing an additional 5,271 shares during the period. Federated Investors Inc. PA boosted its stake in Dropbox by 24.7% in the 2nd quarter. Federated Investors Inc. PA now owns 1,618,714 shares of the company’s stock valued at $52,479,000 after purchasing an additional 320,380 shares during the period. Peregrine Asset Advisers Inc. bought a new stake in Dropbox in the 2nd quarter valued at $2,181,000. Raymond James Financial Services Advisors Inc. bought a new stake in Dropbox in the 2nd quarter valued at $254,000. Finally, Cornerstone Wealth Management LLC bought a new stake in Dropbox in the 2nd quarter valued at $255,000. Institutional investors and hedge funds own 21.57% of the company’s stock.

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Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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