Lisa M. Campbell Sells 5,239 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Lisa M. Campbell sold 5,239 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $151,616.66. Following the transaction, the director now directly owns 19,220 shares in the company, valued at $556,226.80. This trade represents a 21.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $28.67 on Wednesday. The firm’s 50 day moving average price is $27.58 and its 200-day moving average price is $28.70. The company has a market cap of $8.07 billion, a PE ratio of 20.33, a P/E/G ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

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

Institutional Trading of Dropbox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC lifted its position in shares of Dropbox by 1,640.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company’s stock valued at $57,187,000 after buying an additional 2,017,997 shares in the last quarter. Seizert Capital Partners LLC lifted its position in shares of Dropbox by 524.8% during the 1st quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company’s stock valued at $50,198,000 after buying an additional 1,578,566 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Dropbox by 38.1% during the 4th 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Dropbox by 291.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company’s stock valued at $54,007,000 after buying an additional 1,338,234 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Dropbox by 24.0% during the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock valued at $193,641,000 after buying an additional 1,245,563 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DBX. UBS Group lifted their price objective on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Citigroup increased their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” 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.