Dropbox (NASDAQ:DBX) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Dropbox (NASDAQ:DBX) posted its earnings results on Thursday. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02, FiscalAI reports. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The company had revenue of $636.20 million for the quarter, compared to the consensus estimate of $627.83 million.

Dropbox Price Performance

DBX traded up $0.05 during trading on Thursday, hitting $24.73. The company’s stock had a trading volume of 6,473,204 shares, compared to its average volume of 4,054,760. Dropbox has a twelve month low of $23.63 and a twelve month high of $32.55. The stock has a market cap of $6.40 billion, a PE ratio of 13.97, a PEG ratio of 2.00 and a beta of 0.63. The firm’s 50 day moving average price is $26.59 and its 200-day moving average price is $28.38.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 1,500 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $29.64, for a total transaction of $44,460.00. Following the completion of the transaction, the chief financial officer owned 439,147 shares of the company’s stock, valued at $13,016,317.08. This represents a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Houston sold 164,502 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $25.66, for a total transaction of $4,221,121.32. The disclosure for this sale is available in the SEC filing. Insiders have sold 429,007 shares of company stock worth $11,671,198 over the last quarter. 29.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors Inc. acquired a new stake in Dropbox in the fourth quarter valued at approximately $223,000. Qtron Investments LLC acquired a new stake in Dropbox during the 3rd quarter valued at $229,000. FORA Capital LLC purchased a new stake in Dropbox during the 3rd quarter worth $228,000. Vise Technologies Inc. acquired a new position in Dropbox in the 3rd quarter worth $209,000. Finally, Certuity LLC purchased a new position in Dropbox in the 3rd quarter valued at about $235,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on DBX shares. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada dropped their price objective on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.33.

About Dropbox

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.