Lisa Campbell Sells 4,598 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Lisa Campbell sold 4,598 shares of the 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 $159,918.44. Following the completion of the sale, the director directly owned 19,471 shares of the company’s stock, valued at approximately $677,201.38. The trade was a 19.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Performance

DBX traded up $0.78 during trading on Wednesday, reaching $34.59. 4,083,576 shares of the stock were exchanged, compared to its average volume of 3,947,652. The stock has a market cap of $7.81 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 5.15 and a beta of 0.65. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $36.37. The stock’s 50 day moving average price is $32.43 and its two-hundred day moving average price is $27.91.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) 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 analyst estimates of $626.69 million. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. Equities research analysts predict that Dropbox, Inc. will post 1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America reiterated an “underperform” rating on shares of Dropbox in a report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Dropbox in a research report on Thursday, September 3rd. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Finally, Citigroup raised their price objective on Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $30.75.

Hedge Funds Weigh In On Dropbox

Several large investors have recently modified their holdings of DBX. Palisade Asset Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter worth about $30,000. Kestra Advisory Services LLC bought a new stake in shares of Dropbox during the 4th quarter worth about $31,000. Larson Financial Group LLC grew its stake in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after buying an additional 791 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after buying an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Dropbox in the 4th quarter valued at about $38,000. 94.84% of the stock is owned by institutional investors.

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.