Insider Selling: Dropbox (NASDAQ:DBX) Director Sells $232,773.51 in Stock

Dropbox, Inc. (NASDAQ:DBX) Director Andrew William Moore sold 8,443 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $232,773.51. Following the transaction, the director owned 4,737 shares of the company’s stock, valued at $130,599.09. This trade represents a 64.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Up 0.7%

NASDAQ DBX opened at $27.43 on Friday. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $32.40. The stock has a market capitalization of $6.40 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 3.07 and a beta of 0.64. The firm has a 50 day moving average of $24.63 and a two-hundred day moving average of $26.39.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. During the same quarter in the previous year, the business posted $0.70 EPS. The firm’s revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Dropbox, Inc. will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on DBX. JPMorgan Chase & Co. lowered their price target on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada boosted their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. William Blair reiterated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Citigroup boosted their price objective on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $27.00.

Institutional Trading of Dropbox

Institutional investors have recently modified their holdings of the stock. Rossby Financial LCC lifted its position in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after buying an additional 527 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Dropbox during the 3rd quarter worth approximately $30,000. Kestra Advisory Services LLC purchased a new stake in shares of Dropbox during the 4th quarter worth approximately $31,000. Larson Financial Group LLC increased its holdings in shares of Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after acquiring an additional 791 shares during the period. Finally, LRI Investments LLC increased its holdings in shares of Dropbox by 666.7% in 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. Hedge funds and other institutional investors own 94.84% of the company’s stock.

About Dropbox

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.