Dropbox, Inc. (NASDAQ:DBX - Get Free Report) traded down 8.6% on Friday . The stock traded as low as $25.48 and last traded at $25.49. 395,989 shares were traded during trading, a decline of 89% from the average session volume of 3,675,218 shares. The stock had previously closed at $27.88.
Analyst Ratings Changes
Separately, UBS Group reduced their price target on shares of Dropbox from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $28.67.
Read Our Latest Stock Analysis on Dropbox
Dropbox Price Performance
The business has a 50-day simple moving average of $25.37 and a 200 day simple moving average of $23.75. The firm has a market cap of $8.80 billion, a PE ratio of 15.63, a PEG ratio of 1.74 and a beta of 0.61.
Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. During the same period in the prior year, the firm posted $0.28 EPS. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dropbox news, CEO Andrew Houston sold 66,064 shares of Dropbox stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total value of $1,651,600.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $206,666,650. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the completion of the sale, the chief financial officer now owns 485,724 shares in the company, valued at approximately $11,827,379.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 459,952 shares of company stock valued at $11,544,337. Company insiders own 26.40% of the company's stock.
Institutional Investors Weigh In On Dropbox
A number of hedge funds have recently made changes to their positions in DBX. Landscape Capital Management L.L.C. purchased a new position in shares of Dropbox in the third quarter valued at $2,774,000. Aurora Investment Counsel lifted its position in Dropbox by 18.0% during the third quarter. Aurora Investment Counsel now owns 39,245 shares of the company's stock valued at $998,000 after purchasing an additional 6,000 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Dropbox by 12.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 27,593 shares of the company's stock worth $702,000 after buying an additional 2,960 shares in the last quarter. IVY Lane Capital Management LLC bought a new stake in shares of Dropbox in the 3rd quarter worth about $3,179,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Dropbox by 12.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 65,771 shares of the company's stock valued at $1,672,000 after buying an additional 7,385 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.
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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