Dropbox (NASDAQ:DBX) Given Underperform Rating at William Blair

Dropbox (NASDAQ:DBX)‘s stock had its “underperform” rating restated by investment analysts at William Blair in a report issued on Monday, Marketbeat reports.

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

Dropbox Trading Down 0.6%

Shares of DBX opened at $25.01 on Monday. The stock has a 50 day moving average of $25.54 and a 200 day moving average of $28.00. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.77 and a beta of 0.63. Dropbox has a 12 month low of $23.63 and a 12 month high of $32.40.

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

Insider Buying and Selling at Dropbox

In related news, insider Ashraf Alkarmi sold 12,472 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total value of $324,272.00. Following the completion of the transaction, the insider directly owned 414,661 shares of the company’s stock, valued at approximately $10,781,186. This trade represents a 2.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $24.49, for a total transaction of $34,677.84. Following the completion of the transaction, the chief accounting officer owned 86,319 shares of the company’s stock, valued at $2,113,952.31. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 453,028 shares of company stock worth $11,773,578 over the last three months. Company insiders own 28.59% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently made changes to their positions in the stock. WealthCollab LLC grew its position in shares of Dropbox by 20.6% in the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock valued at $65,000 after purchasing an additional 403 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Dropbox by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock worth $160,000 after purchasing an additional 440 shares in the last quarter. Lakewood Asset Management LLC boosted its stake in Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after purchasing an additional 458 shares during the period. Kera Capital Partners Inc. grew its holdings in Dropbox by 3.7% during the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock valued at $391,000 after buying an additional 460 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Dropbox by 5.7% during the second quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock valued at $246,000 after buying an additional 461 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.