Dropbox (NASDAQ:DBX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Dropbox (NASDAQ:DBX) from a hold rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings raised shares of Dropbox from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, November 3rd. William Blair raised shares of Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. UBS Group lifted their target price on shares of Dropbox from $23.00 to $26.00 and gave the stock a “sell” rating in a report on Friday. Citigroup lowered shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their price target for the company from $33.00 to $29.00 in a research note on Thursday, September 24th. Finally, Royal Bank Of Canada increased their price target on shares of Dropbox from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $35.60.

Dropbox Stock Down 6.0%

DBX opened at $32.58 on Friday. Dropbox has a 12-month low of $21.69 and a 12-month high of $38.22. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 3.56 and a beta of 0.62. The business has a 50 day moving average of $35.23 and a 200-day moving average of $29.28.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.15. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%. The business had revenue of $637.30 million during the quarter, compared to the consensus estimate of $629.59 million. During the same quarter last year, the firm posted $0.74 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, analysts expect that Dropbox will post 2.33 earnings per share for the current year.

Insider Activity at Dropbox

In related news, CEO Andrew Houston sold 383,800 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $35.81, for a total value of $13,743,878.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William T. Yoon sold 12,382 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $34.78, for a total transaction of $430,645.96. Following the transaction, the insider directly owned 366,693 shares in the company, valued at approximately $12,753,582.54. This represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,331,268 shares of company stock valued at $46,553,783. 35.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Dropbox by 12.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after purchasing an additional 960,109 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Dropbox by 26.4% in the second quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock valued at $82,552,000 after buying an additional 627,111 shares during the period. Russell Investments Group Ltd. grew its position in Dropbox by 4.7% during the third quarter. Russell Investments Group Ltd. now owns 2,237,858 shares of the company’s stock worth $75,519,000 after buying an additional 100,398 shares in the last quarter. Pacer Advisors Inc. grew its position in Dropbox by 2.8% during the first quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company’s stock worth $46,530,000 after buying an additional 55,921 shares in the last quarter. Finally, KBC Group NV increased its stake in Dropbox by 12.6% during the 1st quarter. KBC Group NV now owns 944,829 shares of the company’s stock worth $21,466,000 after acquiring an additional 105,876 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc is a cloud software company that helps individuals and organizations store, access, sync and share files across devices. Its core Dropbox service also supports collaboration through shared folders, comments and tools for managing digital content.

The company offers products for a range of work and collaboration needs, including Dropbox Sign for electronic signatures and DocSend for sharing and tracking documents. Dropbox has also developed tools for reviewing creative content and organizing work, alongside integrations with other business applications.

Founded in 2007 by Drew Houston and Arash Ferdowsi, Dropbox serves customers around the world.