Brokerages Set Dropbox, Inc. (NASDAQ:DBX) Target Price at $27.50

Shares of Dropbox, Inc. (NASDAQ:DBX - Get Free Report) have been assigned an average rating of "Reduce" from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $27.50.

Separately, Jefferies Financial Group boosted their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, January 6th.

Dropbox Price Performance

DBX traded down $0.20 on Friday, reaching $31.95. 2,862,118 shares of the company's stock were exchanged, compared to its average volume of 2,808,725. The stock has a market cap of $9.90 billion, a PE ratio of 18.47, a P/E/G ratio of 1.63 and a beta of 0.61. Dropbox has a twelve month low of $20.68 and a twelve month high of $33.43. The stock's fifty day moving average price is $30.04 and its 200-day moving average price is $26.71.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.16). The business had revenue of $638.80 million for the quarter, compared to analyst estimates of $636.93 million. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, research analysts predict that Dropbox will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $27.17, for a total value of $67,925.00. Following the sale, the chief financial officer now directly owns 436,264 shares of the company's stock, valued at approximately $11,853,292.88. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Houston sold 132,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $232,458,647.92. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 900,068 shares of company stock valued at $26,648,755 in the last ninety days. Company insiders own 26.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its stake in Dropbox by 10.6% during the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company's stock worth $5,638,000 after purchasing an additional 21,190 shares during the period. Aigen Investment Management LP acquired a new stake in Dropbox during the 3rd quarter worth $482,000. Retirement Systems of Alabama boosted its stake in Dropbox by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock worth $24,007,000 after purchasing an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company's stock worth $71,108,000 after purchasing an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company's stock worth $59,907,000 after purchasing an additional 134,503 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.

About Dropbox

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.