Insider Selling: Dropbox Inc (DBX) CFO Sells 13,731 Shares of Stock

Dropbox Inc (NASDAQ:DBX) CFO Ajay Vashee sold 13,731 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $26.10, for a total value of $358,379.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ajay Vashee also recently made the following trade(s):

  • On Friday, August 24th, Ajay Vashee sold 13,731 shares of Dropbox stock. The shares were sold at an average price of $27.23, for a total value of $373,895.13.

DBX stock traded down $0.03 during mid-day trading on Wednesday, hitting $27.11. The stock had a trading volume of 3,638,300 shares, compared to its average volume of 4,907,980. 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 Inc has a 1-year low of $24.78 and a 1-year high of $43.50.

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

A number of hedge funds have recently modified their holdings of DBX. Wells Fargo & Company MN acquired a new position in Dropbox in the 1st quarter worth about $1,133,000. American Century Companies Inc. acquired a new position in Dropbox in the 1st quarter worth about $2,031,000. Cambridge Investment Research Advisors Inc. acquired a new position in Dropbox in the 1st quarter worth about $395,000. BlackRock Inc. acquired a new position in Dropbox in the 1st quarter worth about $327,409,000. Finally, JPMorgan Chase & Co. acquired a new position in Dropbox in the 1st quarter worth about $24,775,000. 13.82% of the stock is currently owned by institutional investors.

DBX has been the subject of several research analyst reports. JMP Securities increased their price objective on Dropbox from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Royal Bank of Canada raised Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research note on Friday, August 10th. Canaccord Genuity increased their price objective on Dropbox from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Jefferies Financial Group increased their price objective on Dropbox to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. 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 company’s stock. Dropbox presently has a consensus rating of “Buy” and an average price target 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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