William T. Yoon Sells 5,449 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider William T. Yoon sold 5,449 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.94, for a total transaction of $157,694.06. Following the completion of the sale, the insider now owns 245,837 shares in the company, valued at approximately $7,114,522.78. The trade was a 2.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Dropbox Stock Performance

Shares of Dropbox stock opened at $28.67 on Wednesday. The firm’s 50-day simple moving average is $27.58 and its 200-day simple moving average is $28.70. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The firm has a market cap of $8.07 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. During the same period in the previous year, the business earned $0.58 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DBX has been the topic of several research analyst reports. Citigroup raised their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. UBS Group upped their price target on Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 9th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth raised its stake in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. True Wealth Design LLC raised its stake in Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock worth $31,000 after acquiring an additional 680 shares in the last quarter. Elequin Capital LP raised its stake in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after acquiring an additional 469 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Dropbox during the fourth quarter worth $40,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.