Key Points
- CTO Ali Dasdan sold 7,306 shares on Feb. 26 at an average of $24.89 for $181,846.34, trimming his stake by 1.44% to 499,379 shares valued at about $12.43 million.
- Dropbox slightly beat the quarter with EPS of $0.68 versus $0.66 expected and revenue of $636.2 million (vs. $627.8M est.), although revenue was down 1.1% year‑over‑year.
- Analysts have pared targets and the consensus rating is a Hold with a $27.50 average target; notable cuts include UBS to $23 (sell) and JPMorgan to $25 (neutral).
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CTO Ali Dasdan sold 7,306 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $24.89, for a total value of $181,846.34. Following the completion of the transaction, the chief technology officer owned 499,379 shares in the company, valued at $12,429,543.31. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Dropbox Trading Down 0.1%
NASDAQ:DBX opened at $24.96 on Tuesday. The stock has a 50-day moving average price of $26.02 and a 200 day moving average price of $28.27. The stock has a market capitalization of $6.02 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.76 and a beta of 0.63. Dropbox, Inc. has a 12-month low of $23.63 and a 12-month high of $32.40.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The business had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. During the same period in the prior year, the company posted $0.73 EPS. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Dropbox
A number of institutional investors and hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC increased its position in shares of Dropbox by 12.9% during the 4th quarter. DGS Capital Management LLC now owns 34,360 shares of the company's stock valued at $955,000 after purchasing an additional 3,933 shares during the last quarter. Kera Capital Partners Inc. lifted its position in Dropbox by 79.6% in the fourth quarter. Kera Capital Partners Inc. now owns 23,251 shares of the company's stock worth $592,000 after buying an additional 10,306 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Dropbox by 502.7% during the fourth quarter. Corient Private Wealth LLC now owns 138,938 shares of the company's stock worth $3,862,000 after buying an additional 115,884 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Dropbox by 37.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 56,772 shares of the company's stock worth $1,578,000 after buying an additional 15,318 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in Dropbox during the fourth quarter valued at $285,000. Hedge funds and other institutional investors own 94.84% of the company's stock.
Analyst Ratings Changes
DBX has been the topic of a number of research reports. UBS Group reduced their price target on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating on the stock in a report on Friday, February 20th. Wall Street Zen lowered Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. reduced their target price on Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada cut their price target on Dropbox from $35.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $27.50.
View Our Latest Stock Report on DBX
About Dropbox
(
Get Free Report)
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.
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