Insider Selling: Dropbox (NASDAQ:DBX) Director Sells 4,222 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) Director Lisa Campbell sold 4,222 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.51, for a total transaction of $111,925.22. Following the completion of the transaction, the director owned 14,998 shares of the company’s stock, valued at approximately $397,596.98. This trade represents a 21.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Price Performance

Shares of NASDAQ DBX traded down $0.45 during midday trading on Tuesday, hitting $27.53. 4,028,469 shares of the company’s stock were exchanged, compared to its average volume of 3,994,343. The stock’s 50 day moving average price is $24.55 and its 200-day moving average price is $26.41. The firm has a market cap of $6.42 billion, a P/E ratio of 15.04, a PEG ratio of 3.02 and a beta of 0.64. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40.

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

Analyst Ratings Changes

DBX has been the subject of a number of research reports. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. UBS Group decreased their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday. 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Dropbox currently has an average rating of “Reduce” and a consensus price target of $27.00.

Institutional Investors Weigh In On Dropbox

Several hedge funds have recently made changes to their positions in the company. LSV Asset Management lifted its position in shares of Dropbox by 1.1% in the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock valued at $326,251,000 after acquiring an additional 121,999 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after acquiring an additional 960,109 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Dropbox by 1.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock worth $153,935,000 after acquiring an additional 70,867 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Dropbox by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after acquiring an additional 596,440 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Dropbox by 22.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after purchasing an additional 463,258 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

About Dropbox

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.