Dropbox (NASDAQ:DBX) Director Karen Peacock Sells 2,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the transaction, the director owned 24,366 shares of the company’s stock, valued at approximately $706,614. The trade was a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Peacock also recently made the following trade(s):

• On Friday, May 15th, Karen Peacock sold 4,000 shares of Dropbox stock. The stock was sold at an average price of $26.50, for a total transaction of $106,000.00.

Dropbox Stock Up 2.0%

Shares of NASDAQ:DBX opened at $29.41 on Friday. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $32.40. The company has a 50-day moving average price of $27.00 and a 200 day moving average price of $25.87. The company has a market cap of $6.86 billion, a P/E ratio of 16.07, a PEG ratio of 3.16 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last issued its earnings results 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 business had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. Analysts expect that Dropbox, Inc. will post 2.09 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Citigroup upped their price target on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Finally, William Blair reiterated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $27.00.

Institutional Investors Weigh In On Dropbox

Institutional investors and hedge funds have recently modified their holdings of the company. Palisade Asset Management LLC acquired a new position in Dropbox during the third quarter worth $30,000. Kestra Advisory Services LLC acquired a new stake in Dropbox in the fourth quarter valued at $31,000. Larson Financial Group LLC grew its holdings in Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after purchasing an additional 791 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after buying an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Dropbox in the fourth quarter valued at $38,000. 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.