Dropbox (NASDAQ:DBX) Now Covered by Analysts at Stephens

Equities researchers at Stephens started coverage on shares of Dropbox (NASDAQ:DBX) in a research note issued on Tuesday, Briefing.com reports. The firm set an “equal weight” rating and a $39.00 price target on the stock. Stephens‘s price target would indicate a potential upside of 9.43% from the company’s previous close.

Several other analysts have also recently weighed in on DBX. Citigroup cut shares of Dropbox from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $33.00 to $29.00 in a research note on Thursday, September 24th. William Blair raised shares of Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Royal Bank Of Canada restated an “outperform” rating and set a $42.00 target price on shares of Dropbox in a research report on Thursday, September 3rd. Bank of America reaffirmed an “underperform” rating on shares of Dropbox in a report on Friday, August 7th. Finally, Zacks Research upgraded shares of Dropbox from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $31.60.

Dropbox Price Performance

DBX stock opened at $35.64 on Tuesday. Dropbox has a fifty-two week low of $21.69 and a fifty-two week high of $38.22. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 5.38 and a beta of 0.63. The business’s fifty day moving average price is $35.27 and its two-hundred day moving average price is $29.07.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $626.69 million. During the same quarter in the previous year, the business posted $0.71 earnings per share. Dropbox’s quarterly revenue was up .9% on a year-over-year basis. Research analysts expect that Dropbox will post 1.94 EPS for the current year.

Insider Activity

In other news, CFO Ross Tennenbaum sold 97,558 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $35.02, for a total transaction of $3,416,481.16. Following the sale, the chief financial officer directly owned 690,666 shares of the company’s stock, valued at approximately $24,187,123.32. This represents a 12.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Yoon sold 12,382 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $34.78, for a total value of $430,645.96. Following the completion of the transaction, the insider owned 366,693 shares in the company, valued at $12,753,582.54. The trade was a 3.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 947,468 shares of company stock worth $32,809,905. 35.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Dropbox

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Dropbox by 5.2% during the 3rd quarter. GAMMA Investing LLC now owns 10,054 shares of the company’s stock worth $340,000 after purchasing an additional 500 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in Dropbox by 63.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,363 shares of the company’s stock valued at $46,000 after purchasing an additional 527 shares during the last quarter. State of Michigan Retirement System boosted its position in Dropbox by 1.9% in the first quarter. State of Michigan Retirement System now owns 42,000 shares of the company’s stock valued at $954,000 after buying an additional 800 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Dropbox by 68.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock valued at $47,000 after buying an additional 831 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Dropbox by 3.2% during the third quarter. Evergreen Capital Management LLC now owns 26,941 shares of the company’s stock worth $912,000 after buying an additional 841 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.

The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.