Dropbox, Inc. (NASDAQ:DBX - Get Free Report) has been given a consensus rating of "Hold" by the eight brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $29.14.
A number of equities analysts have weighed in on the company. Citigroup decreased their target price on Dropbox from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, June 26th. UBS Group cut their price objective on shares of Dropbox from $30.00 to $28.00 and set a "buy" rating for the company in a report on Friday, August 9th.
Read Our Latest Stock Report on Dropbox
Insider Buying and Selling
In other news, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bart Volkmer sold 7,000 shares of the firm's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $159,320.00. Following the transaction, the insider now owns 333,934 shares in the company, valued at approximately $7,600,337.84. The disclosure for this sale can be found here. Insiders sold a total of 208,536 shares of company stock worth $4,672,611 over the last three months. 26.40% of the stock is owned by insiders.
Institutional Investors Weigh In On Dropbox
Several institutional investors have recently added to or reduced their stakes in DBX. GAMMA Investing LLC acquired a new stake in shares of Dropbox during the fourth quarter worth about $25,000. Sound Income Strategies LLC acquired a new stake in shares of Dropbox during the first quarter worth about $28,000. Fifth Third Bancorp lifted its holdings in shares of Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company's stock worth $31,000 after purchasing an additional 1,169 shares during the period. Principal Securities Inc. acquired a new stake in shares of Dropbox during the fourth quarter worth about $34,000. Finally, Avalon Trust Co acquired a new stake in shares of Dropbox during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 94.84% of the company's stock.
Dropbox Trading Down 0.1 %
Shares of Dropbox stock opened at $22.46 on Thursday. The business has a fifty day simple moving average of $22.35 and a two-hundred day simple moving average of $24.04. The firm has a market capitalization of $7.42 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.61 and a beta of 0.65. Dropbox has a 12 month low of $20.68 and a 12 month high of $33.43.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. Dropbox's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. Analysts predict that Dropbox will post 1.26 earnings per share for the current year.
Dropbox Company Profile
(Get Free Report
Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.
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