Dropbox, Inc. (NASDAQ:DBX) Receives Average Rating of “Reduce” from Analysts

Shares of Dropbox, Inc. (NASDAQ:DBX) have earned a consensus rating of “Reduce” from the six brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $27.50.

Several equities analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. UBS Group cut their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada reduced their price objective on Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, 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.

Insider Activity at Dropbox

In other news, insider Ashraf Alkarmi sold 12,472 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $324,272.00. Following the transaction, the insider owned 414,661 shares in the company, valued at approximately $10,781,186. The trade was a 2.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 approximately $12,429,543.31. The trade was a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 453,028 shares of company stock valued at $11,773,578. Company insiders own 28.59% of the company’s stock.

Institutional Trading of Dropbox

A number of hedge funds have recently modified their holdings of DBX. Rossby Financial LCC increased its position in shares of 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 during the period. Neo Ivy Capital Management bought a new position in Dropbox in the second quarter worth $30,000. Palisade Asset Management LLC bought a new position in Dropbox in the third quarter worth $30,000. First Horizon Corp acquired a new stake in Dropbox during the third quarter worth $31,000. Finally, Kestra Advisory Services LLC acquired a new stake in Dropbox during the fourth quarter worth $31,000. Institutional investors own 94.84% of the company’s stock.

Dropbox Trading Down 2.4%

NASDAQ DBX opened at $24.42 on Tuesday. Dropbox has a 1 year low of $23.63 and a 1 year high of $32.40. The company has a fifty day simple moving average of $25.49 and a 200 day simple moving average of $27.97. The company has a market cap of $5.89 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.77 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The firm had revenue of $636.20 million for the quarter, compared to the consensus estimate of $627.83 million. During the same quarter last year, the firm posted $0.73 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts forecast that Dropbox will post 1.64 EPS for the current fiscal year.

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.