Dropbox, Inc. (NASDAQ:DBX) Insider William T. Yoon Sells 5,449 Shares

Dropbox, Inc. (NASDAQ:DBX) insider William T. Yoon sold 5,449 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.94, for a total transaction of $157,694.06. Following the completion of the sale, the insider now directly owns 245,837 shares in the company, valued at approximately $7,114,522.78. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Dropbox Stock Down 0.7%

Shares of NASDAQ DBX opened at $28.70 on Tuesday. The firm’s 50-day simple moving average is $27.50 and its 200 day simple moving average is $28.70. The stock has a market cap of $8.08 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Dropbox’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dropbox

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wedge Capital Management L L P NC boosted 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 purchasing an additional 2,017,997 shares in the last quarter. Seizert Capital Partners LLC boosted 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 purchasing an additional 1,578,566 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted 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 purchasing an additional 1,440,887 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted 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 purchasing an additional 1,338,234 shares in the last quarter. Finally, LSV Asset Management boosted 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 purchasing an additional 1,245,563 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

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