Dropbox (NASDAQ:DBX) CTO Sells $181,846.34 in Stock

Dropbox, Inc. (NASDAQ:DBX) CTO Ali Dasdan sold 7,306 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $24.89, for a total value of $181,846.34. Following the completion of the sale, the chief technology officer directly owned 499,379 shares of the company’s stock, valued at approximately $12,429,543.31. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Dropbox Price Performance

Dropbox stock opened at $26.17 on Thursday. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 14.07, a PEG 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 fifty-two week low of $23.63 and a fifty-two week high of $32.40.

Dropbox (NASDAQ:DBX) last posted its earnings results 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. 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 for the quarter, compared to analyst estimates of $627.83 million. During the same period last year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DBX has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. UBS Group lowered their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price target 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. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada dropped 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. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.50.

Hedge Funds Weigh In On Dropbox

Large investors have recently bought and sold shares of the company. WealthCollab LLC raised its holdings in shares of Dropbox by 20.6% in the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock valued at $65,000 after purchasing an additional 403 shares during the last quarter. Parallel Advisors LLC grew its position in Dropbox by 8.3% in the fourth quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after purchasing an additional 440 shares in the last quarter. Lakewood Asset Management LLC increased its stake in Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after buying an additional 458 shares during the last quarter. Kera Capital Partners Inc. lifted its position in Dropbox by 3.7% during the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after buying an additional 460 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Dropbox by 5.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock worth $246,000 after buying an additional 461 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Company Profile

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.