Dropbox, Inc. (NASDAQ:DBX - Get Free Report) Director Karen Peacock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.00, for a total value of $66,000.00. Following the transaction, the director owned 22,366 shares in the company, valued at approximately $738,078. This trade represents a 8.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Karen Peacock also recently made the following trade(s):
- On Tuesday, July 7th, Karen Peacock sold 2,000 shares of Dropbox stock. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00.
- On Friday, May 15th, Karen Peacock sold 4,000 shares of Dropbox stock. The stock was sold at an average price of $26.50, for a total transaction of $106,000.00.
Dropbox Trading Up 1.4%
NASDAQ DBX opened at $32.56 on Friday. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $33.54. The company has a fifty day simple moving average of $28.30 and a 200 day simple moving average of $26.20. The company has a market cap of $7.60 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.52 and a beta of 0.66.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. Equities research analysts forecast that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on DBX shares. Royal Bank Of Canada reiterated an "outperform" rating on shares of Dropbox in a research note on Monday, June 1st. Weiss Ratings restated a "hold (c)" rating on shares of Dropbox in a research note on Monday, May 4th. Citigroup raised their target price on Dropbox from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Dropbox from a "hold" rating to a "buy" rating in a research report on Sunday, June 28th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $27.00.
Read Our Latest Research Report on Dropbox
Institutional Trading of Dropbox
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Palisade Asset Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC bought a new stake in Dropbox in the fourth quarter valued at about $31,000. Larson Financial Group LLC raised its position in Dropbox by 228.0% in the fourth 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. Geneos Wealth Management Inc. raised its position in Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after purchasing an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Dropbox during the fourth quarter worth about $38,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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