Dropbox (NASDAQ:DBX) Director Sells $66,000.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.00, for a total transaction of $66,000.00. Following the transaction, the director owned 22,366 shares of the company’s stock, valued at approximately $738,078. This represents a 8.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Peacock also recently made the following trade(s):

• On Tuesday, July 7th, Karen Peacock sold 2,000 shares of Dropbox stock. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00.
• On Friday, May 15th, Karen Peacock sold 4,000 shares of Dropbox stock. The shares were sold at an average price of $26.50, for a total value of $106,000.00.

Dropbox Price Performance

Shares of NASDAQ DBX traded up $0.45 during midday trading on Friday, reaching $32.56. 3,748,573 shares of the stock traded hands, compared to its average volume of 3,944,624. The company’s 50 day moving average is $28.20 and its 200 day moving average is $26.15. Dropbox, Inc. has a one year low of $21.69 and a one year high of $33.54. The stock has a market capitalization of $7.60 billion, a PE ratio of 17.79, a P/E/G ratio of 3.65 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results 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 net margin of 18.71% and a negative return on equity of 30.01%. The company had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Dropbox’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that Dropbox, Inc. will post 2.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Finally, Citigroup increased their price objective on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One research 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 MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $27.00.

Institutional Trading of Dropbox

A number of large investors have recently made changes to their positions in the stock. Palisade Asset Management LLC purchased a new stake in Dropbox in the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC bought a new position in Dropbox in the fourth quarter worth approximately $31,000. Larson Financial Group LLC increased its holdings in Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares during the period. Geneos Wealth Management Inc. increased its holdings in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Dropbox during the 4th quarter valued at $38,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

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.