Dropbox, Inc. (NASDAQ:DBX) Insider Eric Cox Sells 2,339 Shares

Dropbox, Inc. (NASDAQ:DBX) insider Eric Cox sold 2,339 shares of Dropbox stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $67,690.66. Following the transaction, the insider now owns 378,427 shares of the company’s stock, valued at $10,951,677.38. This represents a 0.61% 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.

Eric Cox also recently made the following trade(s):

• On Thursday, February 27th, Eric Cox sold 3,765 shares of Dropbox stock. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50.

Dropbox Stock Down 0.7%

Shares of DBX traded down $0.21 during mid-day trading on Monday, hitting $28.70. The company had a trading volume of 3,371,713 shares, compared to its average volume of 3,610,591. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The business’s 50-day simple moving average is $27.43 and its 200-day simple moving average is $28.68. The stock has a market cap of $8.08 billion, a PE ratio of 20.35, a P/E/G ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. During the same quarter last year, the business earned $0.58 EPS. Dropbox’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On Dropbox

Institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management lifted its stake in shares of Dropbox by 18.4% in the 1st quarter. LSV Asset Management now owns 7,633,516 shares of the company’s stock valued at $203,891,000 after purchasing an additional 1,187,395 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Dropbox by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after buying an additional 1,440,887 shares during the period. AQR Capital Management LLC lifted its position in Dropbox by 3.0% during the fourth quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company’s stock valued at $99,842,000 after buying an additional 97,551 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Dropbox by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company’s stock worth $78,802,000 after buying an additional 36,268 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Dropbox by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company’s stock worth $79,505,000 after acquiring an additional 82,284 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on DBX shares. Citigroup boosted their price target on Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, May 9th. UBS Group upped their target price on Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 9th.

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.