Brokerages Set Dropbox, Inc. (NASDAQ:DBX) PT at $27.50

Shares of Dropbox, Inc. (NASDAQ:DBX) have received a consensus rating of “Reduce” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $27.50.

DBX has been the topic of a number of research reports. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada cut their price target on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. cut their price target on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Finally, William Blair restated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd.

Dropbox Price Performance

DBX opened at $22.72 on Friday. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.56 and a beta of 0.61. The business’s 50-day moving average price is $24.49 and its two-hundred day moving average price is $27.11. Dropbox has a 1 year low of $21.69 and a 1 year high of $32.40.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. Sell-side analysts anticipate that Dropbox will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at Dropbox

In related news, insider Ashraf Alkarmi sold 12,472 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total transaction of $324,272.00. Following the sale, the insider owned 414,661 shares in the company, valued at approximately $10,781,186. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Ali Dasdan sold 7,306 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $24.89, for a total value of $181,846.34. Following the sale, the chief technology officer owned 499,379 shares in the company, valued at $12,429,543.31. The trade was a 1.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 411,774 shares of company stock valued at $10,172,224. 28.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dropbox

A number of institutional investors have recently bought and sold shares of the business. LSV Asset Management increased its position in Dropbox by 1.1% during the fourth quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock worth $326,251,000 after buying an additional 121,999 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Dropbox by 11.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,573,627 shares of the company’s stock worth $210,547,000 after buying an additional 767,119 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Dropbox by 1.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock worth $153,935,000 after buying an additional 70,867 shares during the last quarter. Allianz Asset Management GmbH increased its position in Dropbox by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock worth $75,626,000 after buying an additional 596,440 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Dropbox by 22.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock worth $70,015,000 after buying an additional 463,258 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.