Dropbox, Inc. (NASDAQ:DBX) Insider Bart Volkmer Sells 6,682 Shares

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 6,682 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $23.12, for a total value of $154,487.84. Following the sale, the insider now owns 372,332 shares of the company’s stock, valued at $8,608,315.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Bart Volkmer also recently made the following trade(s):

• On Friday, March 15th, Bart Volkmer sold 7,039 shares of Dropbox stock. The shares were sold at an average price of $24.02, for a total value of $169,076.78.

Dropbox Price Performance

Dropbox stock traded down $0.14 during midday trading on Wednesday, reaching $22.80. 3,164,613 shares of the company traded hands, compared to its average volume of 3,980,114. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 2.58 and a beta of 0.71. The business has a 50 day moving average of $25.13 and a two-hundred day moving average of $27.52. Dropbox, Inc. has a 12 month low of $19.55 and a 12 month high of $33.43.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $635.00 million during the quarter, compared to the consensus estimate of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. As a group, equities analysts forecast that Dropbox, Inc. will post 1.14 EPS for the current year.

Hedge Funds Weigh In On Dropbox

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in shares of Dropbox in the 4th quarter worth about $25,000. Contravisory Investment Management Inc. bought a new stake in Dropbox during the 4th quarter valued at about $26,000. Harbour Investments Inc. bought a new stake in Dropbox during the 4th quarter valued at about $29,000. Fifth Third Bancorp lifted its holdings in Dropbox by 424.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after buying an additional 878 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in Dropbox during the 4th quarter valued at about $34,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DBX has been the topic of several recent research reports. Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and dropped their price target for the company from $34.00 to $28.00 in a research report on Friday, February 16th. KeyCorp lifted their price target on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. The Goldman Sachs Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $26.00 to $24.00 in a report on Friday, February 16th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Finally, Citigroup reduced their price objective on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dropbox currently has an average rating of “Hold” and an average target price of $29.78.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, 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. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.