Dropbox, Inc. (NASDAQ:DBX) Receives Average Rating of “Hold” from Analysts

Shares of Dropbox, Inc. (NASDAQ:DBX) have received a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $27.50.

Several research analysts have recently weighed in on DBX shares. JPMorgan Chase & Co. cut their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. UBS Group cut their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. Royal Bank Of Canada dropped their price objective on Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Finally, Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd.

Insider Transactions at Dropbox

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,416 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $24.49, for a total transaction of $34,677.84. Following the completion of the sale, the chief accounting officer directly owned 86,319 shares in the company, valued at $2,113,952.31. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Houston sold 164,502 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $25.66, for a total transaction of $4,221,121.32. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 423,257 shares of company stock valued at $11,491,436 in the last quarter. Company insiders own 29.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC boosted its position in shares of Dropbox by 20.6% in the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after buying an additional 403 shares during the period. Parallel Advisors LLC raised its holdings in shares of Dropbox by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after buying an additional 440 shares during the period. Lakewood Asset Management LLC lifted its position in Dropbox by 1.0% during the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after acquiring an additional 458 shares in the last quarter. Kera Capital Partners Inc. boosted its holdings in Dropbox by 3.7% in the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after acquiring an additional 460 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Dropbox by 5.7% in the second quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock valued at $246,000 after acquiring an additional 461 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Performance

Shares of DBX opened at $24.84 on Friday. Dropbox has a fifty-two week low of $23.63 and a fifty-two week high of $32.40. The company has a market capitalization of $6.43 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.72 and a beta of 0.63. The stock has a fifty day moving average of $26.16 and a two-hundred day moving average of $28.29.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The firm had revenue of $636.20 million during the quarter, compared to analyst estimates of $627.83 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Dropbox will post 1.64 earnings per share for the current fiscal year.

About Dropbox

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.