Analysts Set Dropbox, Inc. (NASDAQ:DBX) PT at $29.78

Shares of Dropbox, Inc. (NASDAQ:DBX) have earned a consensus rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $29.78.

Several equities research analysts have commented on DBX shares. The Goldman Sachs Group lowered Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. KeyCorp raised their price objective on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 19th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Citigroup decreased their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Finally, Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $28.00 in a research note on Friday, February 16th.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $23.14 on Friday. The business’s 50 day moving average price is $23.73 and its 200-day moving average price is $27.04. Dropbox has a 1 year low of $21.27 and a 1 year high of $33.43. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 2.62 and a beta of 0.70.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The company had revenue of $635.00 million for the quarter, compared to analysts’ expectations of $630.77 million. On average, sell-side analysts expect that Dropbox will post 1.14 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total value of $72,060.00. Following the transaction, the chief financial officer now directly owns 403,720 shares in the company, valued at approximately $9,697,354.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Bart Volkmer sold 7,039 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $169,076.78. Following the sale, the insider now directly owns 233,988 shares in the company, valued at $5,620,391.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $72,060.00. Following the transaction, the chief financial officer now directly owns 403,720 shares of the company’s stock, valued at $9,697,354.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,721 shares of company stock valued at $6,443,955. 26.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dropbox

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. grew its holdings in Dropbox by 5.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock worth $120,327,000 after acquiring an additional 227,633 shares in the last quarter. LSV Asset Management increased its holdings in Dropbox by 3.7% in the first quarter. LSV Asset Management now owns 3,427,430 shares of the company’s stock valued at $83,287,000 after buying an additional 121,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Dropbox by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock valued at $88,151,000 after buying an additional 98,568 shares during the last quarter. Nordea Investment Management AB raised its stake in Dropbox by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 2,228,624 shares of the company’s stock valued at $65,934,000 after buying an additional 81,729 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock valued at $64,825,000 after buying an additional 869,043 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Company Profile

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.