Dropbox (NASDAQ:DBX) Director Lisa Campbell Sells 4,598 Shares

Dropbox, Inc. (NASDAQ:DBX) Director Lisa Campbell sold 4,598 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $34.78, for a total value of $159,918.44. Following the completion of the transaction, the director directly owned 19,471 shares in the company, valued at $677,201.38. This represents a 19.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Up 2.3%

Dropbox stock opened at $34.59 on Thursday. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $36.37. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 4.98 and a beta of 0.65. The stock has a 50-day moving average price of $32.56 and a 200 day moving average price of $27.98.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The firm had revenue of $631.50 million for the quarter, compared to analyst estimates of $626.69 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Dropbox’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts anticipate that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DBX shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Dropbox in a research note on Thursday, September 3rd. Zacks Research downgraded shares of Dropbox from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Bank of America reaffirmed an “underperform” rating on shares of Dropbox in a research report on Friday, August 7th. William Blair upgraded Dropbox from an “underperform” rating to a “market perform” rating in a research note on Friday, August 7th. Finally, Citigroup boosted their price objective on Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $30.75.

Hedge Funds Weigh In On Dropbox

Several institutional investors have recently made changes to their positions in the company. Palisade Asset Management LLC acquired a new position in shares of Dropbox in the 3rd quarter valued at $30,000. Kestra Advisory Services LLC acquired a new stake in Dropbox during the fourth quarter valued at $31,000. Larson Financial Group LLC grew its position in Dropbox by 228.0% during the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after buying an additional 791 shares during the period. Geneos Wealth Management Inc. increased its holdings in 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 buying an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Dropbox in the fourth 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.