Dropbox (NASDAQ:DBX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Dropbox, Inc. is a service company. It offers a platform which enables users to store and share files, photos, videos, songs and spreadsheets. Dropbox, Inc. is headquartered in San Francisco, California. “

Several other analysts have also recently commented on DBX. ValuEngine cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Bank of America upgraded shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Friday, February 22nd. William Blair started coverage on shares of Dropbox in a research note on Tuesday, December 11th. They set an “outperform” rating for the company. Finally, Jefferies Financial Group decreased their price objective on shares of Dropbox to $32.00 in a research note on Friday, February 22nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $33.71.

NASDAQ:DBX traded down $0.46 during trading hours on Thursday, hitting $22.13. 2,890,911 shares of the company were exchanged, compared to its average volume of 2,776,494. The company has a market cap of $9.29 billion and a PE ratio of -16.89. Dropbox has a 52-week low of $18.50 and a 52-week high of $43.50. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.13.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 21st. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $375.90 million for the quarter, compared to the consensus estimate of $369.64 million. Dropbox had a negative net margin of 34.84% and a negative return on equity of 77.19%. As a group, analysts expect that Dropbox will post -0.14 EPS for the current fiscal year.

In related news, CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction on Friday, December 28th. The shares were sold at an average price of $21.00, for a total value of $288,351.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Yamini Rangan sold 5,633 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $26.00, for a total transaction of $146,458.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,961 shares of company stock valued at $2,308,488.

Several institutional investors and hedge funds have recently bought and sold shares of DBX. Quantamental Technologies LLC purchased a new stake in Dropbox in the 4th quarter worth $33,000. Pearl River Capital LLC purchased a new stake in Dropbox in the 4th quarter worth $35,000. Advisory Services Network LLC increased its holdings in Dropbox by 272.7% in the 4th quarter. Advisory Services Network LLC now owns 2,050 shares of the company’s stock worth $42,000 after acquiring an additional 1,500 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new stake in Dropbox in the 4th quarter worth $57,000. Finally, First Interstate Bank purchased a new stake in Dropbox in the 4th quarter worth $82,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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