Ashraf Alkarmi Sells 12,472 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider Ashraf Alkarmi sold 12,472 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total transaction of $324,272.00. Following the completion of the transaction, the insider directly owned 414,661 shares in the company, valued at approximately $10,781,186. The trade was a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Dropbox Trading Up 0.8%

DBX stock traded up $0.21 during midday trading on Thursday, reaching $26.38. 5,790,256 shares of the company’s stock traded hands, compared to its average volume of 4,410,539. Dropbox, Inc. has a 52-week low of $23.63 and a 52-week high of $32.40. The stock has a market cap of $6.36 billion, a P/E ratio of 14.18, a PEG ratio of 1.85 and a beta of 0.63. The stock’s 50-day moving average is $25.94 and its 200 day moving average is $28.24.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. As a group, research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Institutional Trading of Dropbox

A number of institutional investors and hedge funds have recently bought and sold shares of DBX. LSV Asset Management boosted its holdings in shares of Dropbox by 1.1% during the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock valued at $326,251,000 after purchasing an additional 121,999 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Dropbox by 11.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,573,627 shares of the company’s stock worth $210,547,000 after buying an additional 767,119 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Dropbox by 1.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after buying an additional 70,867 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Dropbox by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after buying an additional 596,440 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Dropbox by 22.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after buying an additional 463,258 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on DBX shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. UBS Group dropped their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada decreased their price target on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. lowered their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.50.

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.