Key Points
- CEO Andrew Houston sold 30,332 Dropbox shares on May 18 at an average price of $27.50, totaling about $834,130. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Houston has also sold shares several times recently, including transactions on May 14, April 1, and March 2. These repeated insider sales add to recent selling activity at the company.
- Dropbox recently beat quarterly earnings and revenue estimates, reporting $0.76 EPS on $629.5 million in revenue. Despite that, analyst sentiment remains mixed, with the average rating at “Reduce” and a $27.00 price target.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) Director Andrew William Moore sold 8,443 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $27.57, for a total transaction of $232,773.51. Following the completion of the sale, the director directly owned 4,737 shares of the company's stock, valued at $130,599.09. This trade represents a 64.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Dropbox Stock Up 0.1%
Shares of DBX opened at $27.56 on Thursday. The stock has a market capitalization of $6.43 billion, a P/E ratio of 15.06, a PEG ratio of 3.10 and a beta of 0.64. The firm has a fifty day simple moving average of $24.58 and a two-hundred day simple moving average of $26.40. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to analysts' expectations of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 EPS. Sell-side analysts expect that Dropbox, Inc. will post 2.03 EPS for the current fiscal year.
Trending Headlines about Dropbox
Here are the key news stories impacting Dropbox this week:
- Positive Sentiment: Dropbox’s latest quarterly results beat expectations on both earnings and revenue, reinforcing that the company is still producing steady profitability despite modest top-line growth. Article Title
- Positive Sentiment: Analysts have turned somewhat more upbeat, with Royal Bank of Canada raising its price target to $32 and Wall Street Zen upgrading the stock to buy, helping support sentiment around DBX. Article Title
- Neutral Sentiment: Several insiders, including CEO Andrew Houston, a director, CTO, and CAO, sold shares under pre-arranged 10b5-1 plans; some of the sales were tied to tax withholding on equity vesting, so the activity is not necessarily a negative fundamental signal. Article Title
- Neutral Sentiment: DBX is trading around the middle of its 52-week range, suggesting investors are balancing improving earnings execution against slower revenue growth and mixed analyst ratings. Article Title
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Rossby Financial LCC raised its holdings in Dropbox by 128.5% in the 3rd 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. Palisade Asset Management LLC bought a new position in Dropbox in the 3rd quarter worth $30,000. Kestra Advisory Services LLC bought a new position in Dropbox in the 4th quarter worth $31,000. Larson Financial Group LLC raised its holdings in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company's stock worth $32,000 after purchasing an additional 791 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in Dropbox by 666.7% in the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company's stock worth $35,000 after purchasing an additional 1,000 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have weighed in on DBX. Wall Street Zen raised shares of Dropbox from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Citigroup increased their price target on shares of Dropbox from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. William Blair reissued an "underperform" rating on shares of Dropbox in a research report on Monday, March 23rd. JPMorgan Chase & Co. dropped their price target on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. Finally, UBS Group dropped their price target on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $27.00.
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About Dropbox
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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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