Dropbox (NASDAQ:DBX) CTO Ali Dasdan Sells 7,306 Shares

Dropbox, Inc. (NASDAQ:DBX) CTO Ali Dasdan sold 7,306 shares of Dropbox stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $24.89, for a total transaction of $181,846.34. Following the sale, the chief technology officer owned 499,379 shares of the company’s stock, valued at approximately $12,429,543.31. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $24.96 on Tuesday. The company’s fifty day moving average price is $26.02 and its 200-day moving average price is $28.27. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.76 and a beta of 0.63. Dropbox, Inc. has a one year low of $23.63 and a one year high of $32.40.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.02. The company had revenue of $636.20 million during the quarter, compared to analyst estimates of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. As a group, equities research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Trading of Dropbox

Several large investors have recently modified their holdings of DBX. LSV Asset Management increased its holdings in Dropbox by 38.1% in the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after acquiring an additional 3,205,140 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Dropbox in the second quarter worth approximately $1,404,000. Intech Investment Management LLC increased its stake in shares of Dropbox by 117.3% in the third quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock worth $12,324,000 after purchasing an additional 220,176 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Dropbox during the 2nd quarter valued at $682,000. Finally, CenterBook Partners LP purchased a new position in shares of Dropbox during the 2nd quarter valued at $2,368,000. 94.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Royal Bank Of Canada decreased their target price on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Finally, UBS Group lowered their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.50.

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.