Dropbox Inc (NASDAQ:DBX)’s share price traded up 9% during trading on Monday . The stock traded as high as $23.34 and last traded at $23.16. 7,392,925 shares changed hands during mid-day trading, an increase of 176% from the average session volume of 2,681,110 shares. The stock had previously closed at $21.25.

Several equities analysts have recently commented on the stock. Bank of America upgraded shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Friday, February 22nd. Jefferies Financial Group dropped their target price on shares of Dropbox to $32.00 in a research report on Friday, February 22nd. ValuEngine cut shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Friday, February 22nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.75.

The stock has a market cap of $8.74 billion and a P/E ratio of -17.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.45 and a current ratio of 1.45.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. The business had revenue of $375.90 million during the quarter, compared to analysts’ expectations of $369.64 million. Dropbox had a negative net margin of 34.84% and a negative return on equity of 77.19%. On average, equities research analysts forecast that Dropbox Inc will post -0.14 EPS for the current year.

In related news, insider Quentin Clark sold 16,666 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $23.32, for a total transaction of $388,651.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ajay Vashee sold 13,731 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $21.60, for a total transaction of $296,589.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,711 shares of company stock valued at $2,073,016.

A number of hedge funds have recently added to or reduced their stakes in DBX. Quantamental Technologies LLC acquired a new position in Dropbox during the 4th quarter worth approximately $33,000. Pearl River Capital LLC bought a new stake in Dropbox during the 4th quarter worth approximately $35,000. Advisory Services Network LLC grew its holdings in Dropbox by 272.7% during 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 during the last quarter. Capital Investment Advisory Services LLC bought a new stake in Dropbox during the 4th quarter worth approximately $57,000. Finally, First Interstate Bank bought a new stake in Dropbox during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 31.97% of the company’s stock.

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Dropbox Company Profile (NASDAQ:DBX)

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to collaborate and sign up for free through its Website or app, as well as upgrade to a paid subscription plan for premium features. The company has approximately 500 million registered users across 180 countries.

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