Insider Selling: Dropbox, Inc. (NASDAQ:DBX) Insider Sells $154,487.84 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 6,682 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.12, for a total value of $154,487.84. Following the completion of the sale, the insider now directly owns 372,332 shares of the company’s stock, valued at $8,608,315.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Bart Volkmer also recently made the following trade(s):

• On Friday, March 15th, Bart Volkmer sold 7,039 shares of Dropbox stock. The shares were sold at an average price of $24.02, for a total value of $169,076.78.

Dropbox Price Performance

Dropbox stock opened at $22.98 on Friday. The stock has a fifty day moving average price of $24.73 and a two-hundred day moving average price of $27.45. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The firm has a market capitalization of $7.90 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.57 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. The company had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. On average, equities research analysts predict that Dropbox, Inc. will post 1.14 EPS for the current fiscal year.

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its stake in shares of Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock valued at $64,825,000 after buying an additional 869,043 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Dropbox by 5.6% in the third quarter. Nordea Investment Management AB now owns 2,146,895 shares of the company’s stock valued at $59,050,000 after buying an additional 113,947 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Dropbox by 1,287.7% in the third quarter. Wedge Capital Management L L P NC now owns 2,725,139 shares of the company’s stock valued at $74,206,000 after buying an additional 2,528,754 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Dropbox by 5.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock valued at $120,327,000 after buying an additional 227,633 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of Dropbox in the third quarter valued at $463,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. KeyCorp increased their price objective on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. cut Dropbox from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $30.00 in a research report on Friday, February 16th. Citigroup reduced their target price on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group cut Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.78.

About Dropbox

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.