Dropbox (NASDAQ:DBX) CTO Ali Dasdan Sells 7,306 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CTO Ali Dasdan sold 7,306 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $24.89, for a total transaction of $181,846.34. Following the completion of the sale, the chief technology officer owned 499,379 shares of the company’s stock, valued at $12,429,543.31. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Dropbox Price Performance

DBX traded down $0.03 on Monday, reaching $24.96. 4,153,192 shares of the company’s stock were exchanged, compared to its average volume of 4,373,951. The stock has a market cap of $6.02 billion, a PE ratio of 13.42, a P/E/G ratio of 1.76 and a beta of 0.63. Dropbox, Inc. has a twelve month low of $23.63 and a twelve month high of $32.40. The stock’s fifty day moving average price is $26.09 and its 200-day moving average price is $28.28.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. Dropbox’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

A number of institutional investors have recently made changes to their positions in DBX. WealthCollab LLC lifted its holdings in shares of Dropbox by 20.6% in the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after acquiring an additional 403 shares during the last quarter. Parallel Advisors LLC raised its position in Dropbox by 8.3% in the fourth quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after purchasing an additional 440 shares during the period. Lakewood Asset Management LLC lifted its stake in Dropbox by 1.0% during the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after purchasing an additional 458 shares in the last quarter. Kera Capital Partners Inc. boosted its position in shares of Dropbox by 3.7% during the third quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after buying an additional 460 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Dropbox by 5.7% during the second quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock worth $246,000 after buying an additional 461 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DBX has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. UBS Group cut their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. dropped their price target on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Finally, Royal Bank Of Canada reduced their price target on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.50.

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.