Dropbox (NASDAQ:DBX) Insider Sells $324,272.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider Ashraf Alkarmi sold 12,472 shares of Dropbox stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $324,272.00. Following the transaction, the insider directly owned 414,661 shares of the company’s stock, valued at approximately $10,781,186. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Dropbox Trading Up 0.8%

DBX traded up $0.21 during midday trading on Thursday, reaching $26.38. The company’s stock had a trading volume of 5,790,256 shares, compared to its average volume of 4,410,539. Dropbox, Inc. has a 1 year low of $23.63 and a 1 year high of $32.40. The stock’s 50-day moving average is $25.94 and its 200-day moving average is $28.24. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.85 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $627.83 million. During the same period in the previous year, the firm posted $0.73 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DBX. WealthCollab LLC grew its position in Dropbox by 20.6% in the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after purchasing an additional 403 shares during the period. Parallel Advisors LLC boosted its stake in shares of Dropbox by 8.3% in the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock worth $160,000 after buying an additional 440 shares during the last quarter. Lakewood Asset Management LLC grew its holdings in shares of Dropbox by 1.0% in the fourth 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 during the period. Kera Capital Partners Inc. increased its position in Dropbox by 3.7% during the third quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock valued at $391,000 after acquiring an additional 460 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Dropbox by 5.7% during 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 during the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DBX. UBS Group cut their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Royal Bank Of Canada decreased their price objective on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.50.

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.