Dropbox, Inc. (NASDAQ:DBX) Given Average Recommendation of “Hold” by Analysts

Dropbox, Inc. (NASDAQ:DBX) has received an average rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $31.75.

A number of analysts have recently commented on the company. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th.

Insiders Place Their Bets

In related news, CFO Timothy Regan sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $28.62, for a total transaction of $42,930.00. Following the completion of the sale, the chief financial officer owned 470,121 shares of the company’s stock, valued at $13,454,863.02. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashraf Alkarmi sold 10,098 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $29.18, for a total transaction of $294,659.64. Following the completion of the transaction, the insider owned 435,810 shares of the company’s stock, valued at approximately $12,716,935.80. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 255,350 shares of company stock valued at $7,600,078. 29.95% of the stock is owned by company insiders.

Institutional Trading of Dropbox

Institutional investors and hedge funds have recently modified their holdings of the business. Rossby Financial LCC lifted its holdings in shares of Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares in the last quarter. Palisade Asset Management LLC bought a new stake in Dropbox in the 3rd quarter worth about $30,000. First Horizon Corp purchased a new position in Dropbox in the 3rd quarter worth about $31,000. Neo Ivy Capital Management bought a new position in Dropbox during the 2nd quarter valued at about $30,000. Finally, LRI Investments LLC lifted its stake in Dropbox by 666.7% during the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

NASDAQ:DBX opened at $26.93 on Friday. The firm’s 50-day moving average price is $29.03 and its 200-day moving average price is $28.81. The company has a market capitalization of $6.97 billion, a PE ratio of 15.21, a P/E/G ratio of 2.27 and a beta of 0.63. Dropbox has a 1-year low of $24.42 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. The business had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. Dropbox’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities analysts anticipate that Dropbox will post 1.64 EPS for the current fiscal year.

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.