Shares of Dropbox, Inc. (NASDAQ:DBX – Get Free Report) have been given a consensus rating of “Reduce” by the seven ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $27.50.
Separately, Jefferies Financial Group boosted their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th.
View Our Latest Research Report on Dropbox
Dropbox Price Performance
Dropbox (NASDAQ:DBX – Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The business had revenue of $638.80 million for the quarter, compared to the consensus estimate of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts expect that Dropbox will post 1.49 EPS for the current fiscal year.
Insider Transactions at Dropbox
In related news, CEO Andrew Houston sold 500,323 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $32.17, for a total transaction of $80,425.00. Following the sale, the chief financial officer now owns 398,764 shares of the company’s stock, valued at approximately $12,828,237.88. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 902,568 shares of company stock valued at $26,729,180 in the last three months. 26.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Dropbox
Several institutional investors have recently modified their holdings of DBX. QRG Capital Management Inc. raised its stake in Dropbox by 10.6% during the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after buying an additional 21,190 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Dropbox in the third quarter worth $482,000. Retirement Systems of Alabama increased its position in Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after acquiring an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after purchasing an additional 134,503 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.
About Dropbox
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.
Recommended Stories
- Five stocks we like better than Dropbox
- 3 Warren Buffett Stocks to Buy Now
- Rocket Lab’s Growth Strategy: Small Rockets, Massive Potential
- Consumer Staples Stocks, Explained
- Goldman Sachs vs. Morgan Stanley—Which Stock Has More Upside?
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- 3 Reasons Bulls Will Win on Super Micro Computer Stock
Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.