Dropbox (NASDAQ:DBX) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Dropbox (NASDAQ:DBX) had its target price hoisted by investment analysts at Jefferies Financial Group from $27.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective points to a potential downside of 0.17% from the company’s current price.

Dropbox Stock Up 0.2 %

Shares of Dropbox stock traded up $0.05 on Monday, hitting $30.05. The stock had a trading volume of 1,815,746 shares, compared to its average volume of 2,353,971. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The business’s 50 day moving average is $28.49 and its two-hundred day moving average is $25.48. Dropbox has a twelve month low of $20.68 and a twelve month high of $33.43.

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 132,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $232,458,647.92. This represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric Cox sold 2,330 shares of Dropbox stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares of the company’s stock, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 281,829 shares of company stock worth $8,178,820 in the last 90 days. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DBX. Capital Performance Advisors LLP bought a new position in Dropbox in the 3rd quarter valued at about $28,000. V Square Quantitative Management LLC bought a new position in Dropbox in the third quarter valued at approximately $31,000. Quarry LP raised its position in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares in the last quarter. UMB Bank n.a. lifted its stake in Dropbox by 2,479.4% during the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,686 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Dropbox by 133.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after purchasing an additional 1,650 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

About Dropbox

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.