Insider Selling: Dropbox (NASDAQ:DBX) Director Sells $66,000.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 2,000 shares of Dropbox stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.00, for a total value of $66,000.00. Following the completion of the transaction, the director owned 22,366 shares in the company, valued at approximately $738,078. This represents a 8.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Peacock also recently made the following trade(s):

• On Tuesday, July 7th, Karen Peacock sold 2,000 shares of Dropbox stock. The shares were sold at an average price of $29.00, for a total value of $58,000.00.
• On Friday, May 15th, Karen Peacock sold 4,000 shares of Dropbox stock. The shares were sold at an average price of $26.50, for a total value of $106,000.00.

Dropbox Price Performance

DBX opened at $32.56 on Monday. The stock’s 50 day simple moving average is $28.30 and its 200 day simple moving average is $26.19. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $33.54. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 3.57 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS 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 analysts’ expectations of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. As a group, sell-side analysts anticipate that Dropbox, Inc. will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on DBX. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Finally, Citigroup upped their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $27.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Arbejdsmarkedets Tillaegspension purchased a new position in Dropbox during the fourth quarter valued at $22,050,000. Nisa Investment Advisors LLC grew its position in shares of Dropbox by 57.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock worth $6,219,000 after buying an additional 82,053 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Dropbox by 22.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock worth $70,015,000 after buying an additional 463,258 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Dropbox by 317.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 125,144 shares of the company’s stock worth $3,479,000 after acquiring an additional 95,146 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Dropbox in the 4th quarter worth about $1,223,000. Institutional investors own 94.84% of the company’s stock.

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.