Dropbox Inc (DBX) General Counsel Sells $228,747.48 in Stock

Dropbox Inc (NASDAQ:DBX) General Counsel Bart Volkmer sold 8,606 shares of the business’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $26.58, for a total value of $228,747.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

DBX stock opened at $27.11 on Thursday. Dropbox Inc has a 12-month low of $24.78 and a 12-month high of $43.50. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.12.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The firm had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $330.90 million. During the same period last year, the firm posted $0.06 EPS. Dropbox’s revenue was up 27.2% on a year-over-year basis. equities research analysts forecast that Dropbox Inc will post 0.31 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of DBX. Trustcore Financial Services LLC boosted its position in shares of Dropbox by 702.0% in the second quarter. Trustcore Financial Services LLC now owns 4,010 shares of the company’s stock worth $130,000 after buying an additional 3,510 shares during the period. Legal & General Group Plc purchased a new stake in shares of Dropbox in the first quarter worth about $158,000. Galileo PTC Ltd purchased a new stake in shares of Dropbox in the first quarter worth about $207,000. Advisors Asset Management Inc. purchased a new stake in shares of Dropbox in the second quarter worth about $221,000. Finally, Alkeon Capital Management LLC purchased a new stake in shares of Dropbox in the first quarter worth about $232,000. 13.82% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on DBX shares. Zacks Investment Research raised Dropbox from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Monday, August 13th. Canaccord Genuity boosted their price target on Dropbox from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Jefferies Financial Group boosted their price target on Dropbox to $37.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Monness Crespi & Hardt started coverage on Dropbox in a research report on Monday, August 27th. They set a “neutral” rating for the company. Finally, JMP Securities boosted their price target on Dropbox from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $34.29.

Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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