Dropbox (NASDAQ:DBX) Director Karen Peacock Sells 4,000 Shares

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $26.50, for a total value of $106,000.00. Following the sale, the director owned 17,295 shares of the company’s stock, valued at $458,317.50. This represents a 18.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Performance

NASDAQ:DBX opened at $27.53 on Wednesday. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 3.15 and a beta of 0.64. Dropbox, Inc. has a one year low of $21.69 and a one year high of $32.40. The stock has a 50-day simple moving average of $24.57 and a 200 day simple moving average of $26.40.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DBX. William Blair reissued an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. UBS Group cut their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Citigroup raised their target price on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $27.00.

Dropbox News Summary

Here are the key news stories impacting Dropbox this week:

• Positive Sentiment: Dropbox’s latest quarterly report beat Wall Street expectations, with EPS of $0.76 versus $0.71 estimated and revenue of $629.5 million above forecasts, reinforcing the company’s ability to deliver steady profitability. The stock also received a rating upgrade from Wall Street Zen to buy, while RBC recently raised its price target to $32.
• Neutral Sentiment: Several insiders, including the CEO, CTO, CAO, and two directors, sold shares in recent days. These trades were made under pre-arranged 10b5-1 plans and, in several cases, were tied to tax withholding on vested equity awards, which reduces the likelihood that they signal a fundamental change in outlook. Article Title
• Neutral Sentiment: Dropbox’s stock has also been trading near the middle of its 52-week range, suggesting investors are still balancing solid earnings execution against slower revenue growth and a mixed analyst consensus. Article Title

Institutional Investors Weigh In On Dropbox

Hedge funds have recently made changes to their positions in the business. LSV Asset Management raised its holdings in shares of Dropbox by 38.1% during the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after buying an additional 3,205,140 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Dropbox by 117.3% during the third quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock valued at $12,324,000 after buying an additional 220,176 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new stake in shares of Dropbox during the fourth quarter valued at approximately $22,050,000. Nisa Investment Advisors LLC raised its holdings in shares of Dropbox by 57.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock valued at $6,219,000 after buying an additional 82,053 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in shares of Dropbox by 3,963.5% during the third quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company’s stock valued at $9,452,000 after buying an additional 305,192 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

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.