Dropbox (NASDAQ:DBX) Director Sells $159,918.44 in Stock

Dropbox, Inc. (NASDAQ:DBX) Director Lisa Campbell sold 4,598 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $34.78, for a total transaction of $159,918.44. Following the transaction, the director directly owned 19,471 shares in the company, valued at $677,201.38. The trade was a 19.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Performance

Dropbox stock opened at $35.56 on Friday. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $36.37. The firm has a market cap of $8.03 billion, a PE ratio of 19.76, a P/E/G ratio of 5.16 and a beta of 0.65. The firm’s 50 day moving average price is $32.83 and its two-hundred day moving average price is $28.10.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The company had revenue of $631.50 million during the quarter, compared to analyst estimates of $626.69 million. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts anticipate that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Institutional Trading of Dropbox

Large investors have recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in shares of Dropbox by 7.3% in the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after acquiring an additional 2,655 shares in the last quarter. Cetera Investment Advisers boosted its position in Dropbox by 10.8% during the second quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock worth $704,000 after purchasing an additional 2,405 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Dropbox by 88.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock valued at $48,000 after purchasing an additional 787 shares during the last quarter. Cresset Asset Management LLC grew its holdings in Dropbox by 75.8% during the second quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after purchasing an additional 6,569 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Dropbox by 360.9% during the second quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock valued at $3,371,000 after purchasing an additional 92,280 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DBX shares. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Dropbox in a report on Thursday, September 3rd. Bank of America reissued an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Citigroup increased their price objective on Dropbox from $28.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $30.75.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

The company’s offerings include Dropbox for file management and collaboration, Dropbox Paper for shared document and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.