Dropbox (NASDAQ:DBX) Insider Sells $199,331.10 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider William Yoon sold 7,230 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $199,331.10. Following the completion of the transaction, the insider directly owned 366,963 shares of the company’s stock, valued at $10,117,169.91. This trade represents a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dropbox Price Performance

Shares of DBX stock opened at $27.25 on Friday. The company has a market cap of $6.36 billion, a P/E ratio of 14.89, a PEG ratio of 3.11 and a beta of 0.64. The stock’s 50-day moving average is $24.60 and its 200 day moving average is $26.38. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. On average, analysts anticipate that Dropbox, Inc. will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DBX. Rossby Financial LCC grew its stake in shares of Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after purchasing an additional 527 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in Dropbox in the 3rd quarter valued at $30,000. First Horizon Corp acquired a new stake in shares of Dropbox during the third quarter worth about $31,000. Kestra Advisory Services LLC purchased a new position in shares of Dropbox in the 4th quarter valued at approximately $31,000. Finally, Larson Financial Group LLC grew its position in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after buying an additional 791 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada increased their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Finally, UBS Group decreased their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $27.00.

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.