Dropbox (NASDAQ:DBX) Director Sells $106,000.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 4,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.50, for a total value of $106,000.00. Following the transaction, the director owned 17,295 shares of the company’s stock, valued at $458,317.50. The trade was a 18.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Trading Down 1.1%

Dropbox stock opened at $27.25 on Friday. The firm has a market capitalization of $6.36 billion, a P/E ratio of 14.89, a PEG ratio of 3.11 and a beta of 0.64. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40. The business has a 50-day moving average of $24.60 and a 200-day moving average of $26.38.

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

Hedge Funds Weigh In On Dropbox

Institutional investors and hedge funds have recently modified their holdings of the business. LSV Asset Management grew its position in shares of Dropbox by 38.1% in the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after purchasing an additional 3,205,140 shares during the period. Intech Investment Management LLC boosted its position in shares of Dropbox by 117.3% during the third quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock worth $12,324,000 after buying an additional 220,176 shares during the period. Arbejdsmarkedets Tillaegspension acquired a new position in shares of Dropbox during the fourth quarter worth about $22,050,000. Nisa Investment Advisors LLC boosted its position in shares of Dropbox by 57.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock worth $6,219,000 after buying an additional 82,053 shares during the period. Finally, Tudor Investment Corp ET AL lifted its stake in Dropbox by 3,963.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company’s stock valued at $9,452,000 after acquiring an additional 305,192 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DBX has been the subject of several analyst reports. Citigroup boosted their target price on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Royal Bank Of Canada boosted their target price on Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. UBS Group decreased their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Finally, Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $27.00.

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.