Key Points
- CEO Andrew Houston sold 109,498 Dropbox shares on March 2 at an average price of $24.94 for $2.73M, and has sold additional blocks since January — roughly $11.1M of DBX stock in recent insider sales.
- Dropbox slightly beat estimates last quarter (EPS $0.68 vs. $0.66; revenue $636.2M vs. $627.8M) but revenue was down 1.1% year-over-year and the company reports a negative return on equity, reflecting mixed fundamentals.
- Analysts have trimmed ratings and targets (consensus is a Hold with a $27.50 price target), and the stock trades near $26 with the 50-day moving average below the 200-day, indicating near-term weakness.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 109,498 shares of Dropbox stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $24.94, for a total value of $2,730,880.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Andrew Houston also recently made the following trade(s):
- On Monday, February 2nd, Andrew Houston sold 164,502 shares of Dropbox stock. The shares were sold at an average price of $25.66, for a total value of $4,221,121.32.
- On Monday, January 12th, Andrew Houston sold 23,818 shares of Dropbox stock. The shares were sold at an average price of $27.51, for a total value of $655,233.18.
- On Friday, January 9th, Andrew Houston sold 36,182 shares of Dropbox stock. The stock was sold at an average price of $27.54, for a total transaction of $996,452.28.
- On Friday, January 2nd, Andrew Houston sold 92,668 shares of Dropbox stock. The stock was sold at an average price of $26.91, for a total transaction of $2,493,695.88.
Dropbox Price Performance
DBX opened at $26.17 on Thursday. The stock has a market capitalization of $6.31 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63. The company's 50 day simple moving average is $25.94 and its 200-day simple moving average is $28.24. Dropbox, Inc. has a one year low of $23.63 and a one year high of $32.40.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $636.20 million during the quarter, compared to analysts' expectations of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. Dropbox's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.
Hedge Funds Weigh In On Dropbox
Institutional investors and hedge funds have recently made changes to their positions in the company. Rossby Financial LCC lifted its holdings in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after acquiring an additional 527 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Dropbox in the 2nd quarter valued at approximately $30,000. Palisade Asset Management LLC bought a new stake in Dropbox during the 3rd quarter worth approximately $30,000. First Horizon Corp bought a new stake in Dropbox during the 3rd quarter worth approximately $31,000. Finally, Kestra Advisory Services LLC acquired a new stake in Dropbox during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 94.84% of the company's stock.
Analysts Set New Price Targets
A number of research firms have issued reports on DBX. Wall Street Zen downgraded shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, January 23rd. Royal Bank Of Canada cut their price objective on shares of Dropbox from $35.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, February 20th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dropbox in a report on Wednesday, January 21st. UBS Group cut their price target on Dropbox from $27.00 to $23.00 and set a "sell" rating on the stock in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target on Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.50.
Check Out Our Latest Report on DBX
Dropbox Company Profile
(
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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