Dropbox (NASDAQ:DBX) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Dropbox (NASDAQ:DBX) announced its quarterly earnings data on Thursday. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.02, FiscalAI reports. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million.

Dropbox Trading Up 0.2%

NASDAQ DBX traded up $0.05 during trading on Thursday, hitting $24.73. 6,493,779 shares of the company traded hands, compared to its average volume of 4,054,760. Dropbox has a 12 month low of $23.63 and a 12 month high of $32.55. The business has a fifty day simple moving average of $26.59 and a 200 day simple moving average of $28.38. The company has a market capitalization of $6.40 billion, a P/E ratio of 13.97, a PEG ratio of 2.00 and a beta of 0.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada cut their price objective on Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, January 5th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Dropbox has an average rating of “Hold” and a consensus price target of $31.33.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 1,500 shares of Dropbox stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $29.64, for a total value of $44,460.00. Following the transaction, the chief financial officer owned 439,147 shares of the company’s stock, valued at $13,016,317.08. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Ali Dasdan sold 5,666 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.00, for a total transaction of $169,980.00. Following the completion of the sale, the chief technology officer owned 520,474 shares of the company’s stock, valued at $15,614,220. The trade was a 1.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 429,007 shares of company stock worth $11,671,198. Insiders own 29.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new stake in Dropbox during the third quarter worth $30,000. Kestra Advisory Services LLC bought a new position in shares of Dropbox during the 4th quarter worth about $31,000. Geneos Wealth Management Inc. lifted its holdings in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after acquiring an additional 558 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Dropbox during the 4th quarter valued at about $38,000. Finally, EverSource Wealth Advisors LLC increased its stake in Dropbox by 88.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock valued at $48,000 after acquiring an additional 787 shares during the period. 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.