Key Points
- Ashraf Alkarmi, a Dropbox insider, sold 12,472 shares on March 3 at an average price of $26 for proceeds of $324,272, trimming his stake by 2.92% to 414,661 shares (≈$10.78M).
- Dropbox beat Q4 EPS estimates ($0.68 vs. $0.66) with revenue of $636.2M (down 1.1% YoY); the stock trades near $26.42 with a $6.37B market cap, and analysts hold a consensus Hold rating with an average target of $27.50 amid several price-target cuts.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) insider Ashraf Alkarmi sold 12,472 shares of the business's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total value of $324,272.00. Following the sale, the insider owned 414,661 shares of the company's stock, valued at approximately $10,781,186. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Dropbox Stock Performance
Shares of NASDAQ DBX traded up $0.04 during midday trading on Friday, hitting $26.42. 785,650 shares of the company's stock traded hands, compared to its average volume of 4,327,768. The firm has a fifty day moving average of $25.91 and a 200 day moving average of $28.23. Dropbox, Inc. has a 1 year low of $23.63 and a 1 year high of $32.40. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The company had revenue of $636.20 million during the quarter, compared to analyst estimates of $627.83 million. During the same period in the previous year, the business posted $0.73 earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Hedge Funds Weigh In On Dropbox
A number of hedge funds have recently made changes to their positions in DBX. Rossby Financial LCC grew its position in shares of Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after purchasing an additional 527 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Dropbox in the 2nd quarter worth approximately $30,000. Palisade Asset Management LLC purchased a new position in Dropbox in the 3rd quarter worth approximately $30,000. First Horizon Corp bought a new position in Dropbox in the 3rd quarter worth approximately $31,000. Finally, Kestra Advisory Services LLC bought a new position in Dropbox in the 4th quarter worth approximately $31,000. Institutional investors own 94.84% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, January 21st. UBS Group reduced their price target on Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a research report on Friday, February 20th. Wall Street Zen cut 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 Dropbox from $35.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $27.50.
Check Out Our Latest Analysis 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.
Further Reading
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