William Yoon Sells 7,230 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider William Yoon sold 7,230 shares of Dropbox stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $199,331.10. Following the completion of the transaction, the insider directly owned 366,963 shares in the company, valued at approximately $10,117,169.91. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dropbox Price Performance

Dropbox stock opened at $27.56 on Thursday. The firm’s 50 day simple moving average is $24.58 and its 200-day simple moving average is $26.40. The company has a market cap of $6.43 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 3.10 and a beta of 0.64. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $32.40.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rossby Financial LCC grew its position in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares in the last quarter. Palisade Asset Management LLC purchased a new position in Dropbox during the third quarter valued at approximately $30,000. First Horizon Corp purchased a new position in Dropbox during the third quarter valued at approximately $31,000. Kestra Advisory Services LLC purchased a new position in Dropbox during the fourth quarter valued at approximately $31,000. Finally, Larson Financial Group LLC grew its position in Dropbox by 228.0% during the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after purchasing an additional 791 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several 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. JPMorgan Chase & Co. dropped their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Royal Bank Of Canada lifted 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. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, UBS Group lowered 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. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $27.00.

Dropbox News Summary

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

Dropbox Company Profile

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.