Dropbox, Inc. (NASDAQ:DBX) Insider Sells $169,076.78 in Stock

Dropbox, Inc. (NASDAQ:DBXGet Free Report) insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $169,076.78. Following the sale, the insider now owns 233,988 shares of the company’s stock, valued at approximately $5,620,391.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Dropbox Stock Performance

NASDAQ DBX opened at $24.46 on Thursday. The stock has a fifty day moving average of $28.29 and a 200-day moving average of $27.99. The stock has a market capitalization of $8.41 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.70 and a beta of 0.71. Dropbox, Inc. has a 52 week low of $19.55 and a 52 week high of $33.43.

Dropbox (NASDAQ:DBXGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. The company had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. Equities research analysts forecast that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DBX. Bank of America downgraded Dropbox from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. The Goldman Sachs Group cut Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. UBS Group initiated coverage on Dropbox in a research report on Friday, December 15th. They set a “buy” rating and a $36.00 price objective for the company. Finally, KeyCorp upped their price target on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.11.

View Our Latest Research Report on DBX

Institutional Investors Weigh In On Dropbox

A number of institutional investors have recently made changes to their positions in the stock. Creative Planning grew its stake in shares of Dropbox by 0.8% during the fourth quarter. Creative Planning now owns 46,046 shares of the company’s stock worth $1,357,000 after purchasing an additional 352 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Dropbox by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after acquiring an additional 415 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in Dropbox by 6.1% during the third quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after acquiring an additional 417 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Dropbox by 7.4% during the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after acquiring an additional 459 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Dropbox by 2.7% during the third quarter. Daiwa Securities Group Inc. now owns 19,167 shares of the company’s stock worth $522,000 after acquiring an additional 500 shares in the last quarter. 70.28% of the stock is owned by institutional investors and hedge funds.

Dropbox Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Dropbox (NASDAQ:DBX)

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