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Brokerages Set Dropbox, Inc. (NASDAQ:DBX) PT at $28.86

Dropbox logo with Computer and Technology background

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) has earned a consensus recommendation of "Hold" from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $28.86.

Separately, Jefferies Financial Group raised their price target on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a report on Monday.

Check Out Our Latest Research Report on Dropbox

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.18, for a total value of $65,450.00. Following the completion of the transaction, the chief financial officer now directly owns 466,747 shares of the company's stock, valued at $12,219,436.46. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew Houston sold 132,000 shares of Dropbox stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $28.12, for a total value of $3,711,840.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at approximately $232,458,647.92. This represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 792,152 shares of company stock valued at $23,309,897. 26.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its stake in shares of Dropbox by 63.0% in the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company's stock valued at $167,523,000 after purchasing an additional 2,881,981 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company's stock valued at $56,994,000 after buying an additional 986,942 shares in the last quarter. AQR Capital Management LLC lifted its position in Dropbox by 39.7% during the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company's stock valued at $67,360,000 after buying an additional 859,233 shares in the last quarter. Distillate Capital Partners LLC purchased a new stake in Dropbox during the second quarter worth approximately $14,291,000. Finally, Renaissance Technologies LLC grew its stake in Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company's stock worth $231,761,000 after buying an additional 506,200 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Dropbox Price Performance

Shares of DBX stock traded up $0.07 during midday trading on Monday, hitting $30.07. The company had a trading volume of 3,654,880 shares, compared to its average volume of 2,994,327. The company's 50 day simple moving average is $28.59 and its 200 day simple moving average is $25.57. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.68 and a beta of 0.61. Dropbox has a 52-week low of $20.68 and a 52-week high of $33.43.

Dropbox Company Profile

(Get Free Report

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.

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