William Yoon Sells 12,382 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider William Yoon sold 12,382 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $34.78, for a total transaction of $430,645.96. Following the completion of the transaction, the insider directly owned 366,693 shares in the company, valued at $12,753,582.54. The trade was a 3.27% decrease in their position. The transaction was disclosed in a legal 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.

Dropbox Price Performance

Shares of DBX stock opened at $35.05 on Friday. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $36.37. The firm has a market cap of $7.91 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 5.09 and a beta of 0.65. The company has a 50-day moving average of $32.69 and a two-hundred day moving average of $28.04.

Dropbox (NASDAQ:DBX) last released its quarterly 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. The business had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. Sell-side analysts anticipate that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Institutional Trading of Dropbox

Several hedge funds have recently modified their holdings of DBX. Empowered Funds LLC grew its stake in Dropbox by 7.3% during the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after purchasing an additional 2,655 shares in the last quarter. Cetera Investment Advisers raised its position in Dropbox by 10.8% in the 2nd quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock valued at $704,000 after purchasing an additional 2,405 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Dropbox by 88.0% in the 2nd 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 in the last quarter. Cresset Asset Management LLC boosted its stake in shares of Dropbox by 75.8% in the 2nd quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after buying an additional 6,569 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Dropbox by 360.9% in the 2nd quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock valued at $3,371,000 after buying an additional 92,280 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DBX shares. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Zacks Research cut Dropbox from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Bank of America reiterated an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Dropbox in a research note on Thursday, September 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Dropbox presently has a consensus rating of “Reduce” and an average target price 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.