Ali Dasdan Sells 5,666 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CTO Ali Dasdan sold 5,666 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.56, for a total transaction of $156,154.96. Following the completion of the transaction, the chief technology officer directly owned 514,611 shares in the company, valued at approximately $14,182,679.16. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ali Dasdan also recently made the following trade(s):

• On Thursday, February 26th, Ali Dasdan sold 7,306 shares of Dropbox stock. The stock was sold at an average price of $24.89, for a total transaction of $181,846.34.

Dropbox Trading Up 0.1%

Dropbox stock opened at $27.56 on Thursday. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40. The stock’s 50 day moving average is $24.58 and its 200-day moving average is $26.40. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 3.10 and a beta of 0.64.

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

Analyst Ratings Changes

DBX has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. JPMorgan Chase & Co. dropped their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada boosted their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Citigroup increased their target price on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One investment 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 currently has a consensus rating of “Reduce” and an average price target of $27.00.

Key Dropbox News

Here are the key news stories impacting Dropbox this week:

• Positive Sentiment: Dropbox’s latest quarterly results beat expectations on both earnings and revenue, reinforcing that the company is still producing steady profitability despite modest top-line growth.
• Positive Sentiment: Analysts have turned somewhat more upbeat, with Royal Bank of Canada raising its price target to $32 and Wall Street Zen upgrading the stock to buy, helping support sentiment around DBX.
• Neutral Sentiment: Several insiders, including CEO Andrew Houston, a director, CTO, and CAO, sold shares under pre-arranged 10b5-1 plans; some of the sales were tied to tax withholding on equity vesting, so the activity is not necessarily a negative fundamental signal. Article Title
• Neutral Sentiment: DBX is trading around the middle of its 52-week range, suggesting investors are balancing improving earnings execution against slower revenue growth and mixed analyst ratings. Article Title

Institutional Trading of Dropbox

Several large investors have recently modified their holdings of DBX. WealthCollab LLC increased 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 worth $65,000 after purchasing an additional 403 shares during the period. Parallel Advisors LLC grew its stake in Dropbox by 8.3% during the fourth quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock worth $160,000 after buying an additional 440 shares in the last quarter. Lakewood Asset Management LLC grew its stake in Dropbox by 1.0% during the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after buying an additional 458 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Dropbox by 1.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock worth $730,000 after buying an additional 466 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in Dropbox by 4.4% during the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after buying an additional 480 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

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.