Dropbox (NASDAQ:DBX) Insider William Yoon Sells 12,382 Shares

Dropbox, Inc. (NASDAQ:DBX) insider William Yoon sold 12,382 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $34.78, for a total value of $430,645.96. Following the sale, the insider owned 366,693 shares of the company’s stock, valued at approximately $12,753,582.54. This represents a 3.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Up 2.3%

Shares of DBX opened at $34.59 on Thursday. The business’s fifty day moving average is $32.56 and its 200 day moving average is $27.98. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $36.37. The stock has a market cap of $7.81 billion, a P/E ratio of 19.22, a P/E/G ratio of 4.98 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, analysts expect that Dropbox, Inc. will post 1.94 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on DBX. Bank of America reiterated an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. William Blair upgraded Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Citigroup lifted their target price on Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $30.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Palisade Asset Management LLC purchased a new stake in Dropbox in the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC bought a new position in shares of Dropbox during the 4th quarter worth approximately $31,000. Larson Financial Group LLC boosted its stake in shares of Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after buying an additional 791 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after buying an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Dropbox in the fourth quarter valued at approximately $38,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

About Dropbox

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.