Karen Peacock Sells 2,000 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.00, for a total transaction of $66,000.00. Following the completion of the transaction, the director owned 22,366 shares of the company’s stock, valued at approximately $738,078. This trade represents a 8.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Peacock also recently made the following trade(s):

• On Tuesday, July 7th, Karen Peacock sold 2,000 shares of Dropbox stock. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00.
• On Friday, May 15th, Karen Peacock sold 4,000 shares of Dropbox stock. The stock was sold at an average price of $26.50, for a total value of $106,000.00.

Dropbox Price Performance

Dropbox stock opened at $32.56 on Friday. The firm has a market cap of $7.60 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.57 and a beta of 0.66. Dropbox, Inc. has a one year low of $21.69 and a one year high of $33.54. The stock’s 50 day moving average is $28.30 and its 200 day moving average is $26.20.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. Equities analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup upped their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Finally, Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Dropbox presently has an average rating of “Reduce” and an average target price of $27.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Palisade Asset Management LLC bought a new stake in Dropbox during the third quarter valued at $30,000. Kestra Advisory Services LLC bought a new stake in Dropbox in the 4th quarter worth approximately $31,000. Larson Financial Group LLC lifted 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 worth $32,000 after acquiring an additional 791 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after buying an additional 558 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Dropbox during the 4th quarter valued at about $38,000. 94.84% of the stock is owned by institutional investors.

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.