Lisa Campbell Sells 4,222 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Lisa Campbell sold 4,222 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.51, for a total value of $111,925.22. Following the sale, the director owned 14,998 shares in the company, valued at approximately $397,596.98. The trade was a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Performance

NASDAQ:DBX opened at $27.56 on Thursday. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 3.10 and a beta of 0.64. The business’s fifty day moving average is $24.58 and its 200 day moving average is $26.40.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price 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. Royal Bank Of Canada upped their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Citigroup upped their target price on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. UBS Group decreased their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Dropbox presently has an average rating of “Reduce” and an average price target of $27.00.

Hedge Funds Weigh In On Dropbox

A number of institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Dropbox by 68.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock worth $47,000 after buying an additional 831 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Dropbox by 18.4% in the 1st quarter. California State Teachers Retirement System now owns 206,493 shares of the company’s stock worth $4,692,000 after buying an additional 32,041 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Dropbox by 12.9% in the 1st quarter. Empowered Funds LLC now owns 116,220 shares of the company’s stock worth $2,641,000 after buying an additional 13,244 shares during the last quarter. Lombard Odier Asset Management USA Corp bought a new position in shares of Dropbox in the 1st quarter worth $266,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Dropbox by 12.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after buying an additional 960,109 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox News Roundup

Here are the key news stories impacting Dropbox this week:

• Positive Sentiment: Dropbox’s latest quarterly results beat expectations on both earnings and revenue, reinforcing that the company is still producing steady profitability despite modest top-line growth.
• Positive Sentiment: Analysts have turned somewhat more upbeat, with Royal Bank of Canada raising its price target to $32 and Wall Street Zen upgrading the stock to buy, helping support sentiment around DBX.
• Neutral Sentiment: Several insiders, including CEO Andrew Houston, a director, CTO, and CAO, sold shares under pre-arranged 10b5-1 plans; some of the sales were tied to tax withholding on equity vesting, so the activity is not necessarily a negative fundamental signal. Article Title
• Neutral Sentiment: DBX is trading around the middle of its 52-week range, suggesting investors are balancing improving earnings execution against slower revenue growth and mixed analyst ratings. Article Title

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.