Dropbox (NASDAQ:DBX) Director Andrew William Moore Sells 8,443 Shares

Dropbox, Inc. (NASDAQ:DBX) Director Andrew William Moore sold 8,443 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $232,773.51. Following the sale, the director directly owned 4,737 shares in the company, valued at $130,599.09. This trade represents a 64.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Trading Up 0.1%

Dropbox stock opened at $27.56 on Thursday. The firm’s 50 day simple moving average is $24.58 and its 200 day simple moving average is $26.40. The firm has a market capitalization of $6.43 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 3.10 and a beta of 0.64. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40.

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

Institutional Investors Weigh In On Dropbox

A number of institutional investors have recently made changes to their positions in DBX. LSV Asset Management boosted its stake in shares of Dropbox by 38.1% in the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after purchasing an additional 3,205,140 shares in the last quarter. Norges Bank purchased a new stake in shares of Dropbox in the 4th quarter valued at $69,909,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Dropbox by 12.7% in 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. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Dropbox in the 4th quarter valued at $22,050,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of Dropbox by 47.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock valued at $64,164,000 after purchasing an additional 686,577 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

DBX has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. JPMorgan Chase & Co. decreased their price target on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Royal Bank Of Canada increased their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, William Blair reissued an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Dropbox presently has a consensus rating of “Reduce” and an average price target of $27.00.

Key Stories Impacting Dropbox

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

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.