Insider Selling: Dropbox (NASDAQ:DBX) Insider Sells $430,645.96 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider William Yoon sold 12,382 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $34.78, for a total transaction of $430,645.96. Following the completion of the transaction, the insider directly owned 366,693 shares of the company’s stock, valued at $12,753,582.54. This represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Up 2.3%

DBX stock traded up $0.78 during trading on Wednesday, reaching $34.59. The company’s stock had a trading volume of 4,083,576 shares, compared to its average volume of 3,947,652. The company’s fifty day moving average is $32.43 and its 200-day moving average is $27.91. The company has a market capitalization of $7.81 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 5.15 and a beta of 0.65. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $36.37.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. Analysts anticipate that Dropbox, Inc. will post 1.93 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DBX. Palisade Asset Management LLC bought a new stake in Dropbox in the 3rd quarter worth approximately $30,000. Kestra Advisory Services LLC purchased a new stake in shares of Dropbox during the 4th quarter worth approximately $31,000. Larson Financial Group LLC boosted its position in shares of Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after acquiring an additional 791 shares during the last quarter. Geneos Wealth Management Inc. boosted its position 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 valued at $36,000 after acquiring an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Dropbox in the fourth quarter valued at $38,000. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DBX shares. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Citigroup lifted their price objective on shares of Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. William Blair raised shares of Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Bank of America restated an “underperform” rating on shares of Dropbox in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Dropbox in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $30.75.

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.