Dropbox (NASDAQ:DBX) Director Sells $106,000.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 4,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.50, for a total transaction of $106,000.00. Following the transaction, the director owned 17,295 shares of the company’s stock, valued at $458,317.50. This represents a 18.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Price Performance

Shares of DBX stock traded down $0.45 during trading hours on Tuesday, reaching $27.53. The stock had a trading volume of 4,028,469 shares, compared to its average volume of 3,994,343. The firm has a market capitalization of $6.42 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 3.02 and a beta of 0.64. The firm has a 50-day simple moving average of $24.55 and a 200-day simple moving average of $26.41. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. Dropbox’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, equities analysts anticipate that Dropbox, Inc. will post 2.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

DBX has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price target on Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group lowered their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Finally, William Blair reiterated an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $27.00.

Hedge Funds Weigh In On Dropbox

Several large investors have recently made changes to their positions in the business. LSV Asset Management boosted its position in shares of Dropbox by 1.1% during the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock valued at $326,251,000 after purchasing an additional 121,999 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after purchasing an additional 960,109 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Dropbox by 1.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after purchasing an additional 70,867 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Dropbox by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after purchasing an additional 596,440 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Dropbox by 22.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock worth $70,015,000 after purchasing an additional 463,258 shares in the last quarter. 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.