Dropbox (NASDAQ:DBX) Insider Eric Webster Sells 15,830 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) insider Eric Webster sold 15,830 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $34.09, for a total transaction of $539,644.70. Following the sale, the insider directly owned 416,236 shares of the company’s stock, valued at $14,189,485.24. The trade was a 3.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dropbox Price Performance

DBX opened at $33.99 on Thursday. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $36.30. The stock has a market capitalization of $7.67 billion, a PE ratio of 18.88, a P/E/G ratio of 4.63 and a beta of 0.64. The firm’s fifty day moving average price is $30.12 and its 200 day moving average price is $26.92.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The company had revenue of $631.50 million during the quarter, compared to the consensus estimate of $626.69 million. During the same quarter in the previous year, the firm earned $0.71 EPS. The company’s revenue was up .9% on a year-over-year basis. On average, equities research analysts forecast that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Palisade Asset Management LLC bought a new position in Dropbox in the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC bought a new stake in shares of Dropbox during the 4th quarter worth about $31,000. Larson Financial Group LLC lifted its stake in shares of Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after acquiring an additional 791 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after acquiring an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Dropbox during the fourth quarter valued at approximately $38,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DBX has been the subject of a number of recent research reports. Weiss Ratings raised shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Bank of America restated an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Citigroup upped their price target on shares of Dropbox from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Dropbox currently has an average rating of “Reduce” and a consensus target price of $28.25.

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.