Dropbox, Inc. (NASDAQ:DBX) Receives $28.86 Consensus PT from Analysts

Shares of Dropbox, Inc. (NASDAQ:DBX) have received an average recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $28.86.

Separately, Jefferies Financial Group boosted their price objective on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 6th.

Dropbox Stock Down 1.1 %

Shares of NASDAQ:DBX opened at $29.41 on Monday. Dropbox has a 52 week low of $20.68 and a 52 week high of $33.43. The company’s fifty day moving average is $28.88 and its 200 day moving average is $25.79. The stock has a market cap of $9.11 billion, a PE ratio of 17.00, a PEG ratio of 1.67 and a beta of 0.63.

Insiders Place Their Bets

In other news, insider Eric Cox sold 2,330 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the sale, the insider now directly owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $25.71, for a total transaction of $64,275.00. Following the sale, the chief financial officer now owns 464,247 shares of the company’s stock, valued at approximately $11,935,790.37. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 822,069 shares of company stock worth $24,209,501 over the last three months. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Dropbox

A number of institutional investors have recently made changes to their positions in DBX. Capital Performance Advisors LLP purchased a new stake in Dropbox during the third quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in shares of Dropbox during the 3rd quarter valued at $31,000. Quarry LP boosted its stake in shares of Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after acquiring an additional 880 shares during the period. UMB Bank n.a. boosted its stake in Dropbox by 2,479.4% in the 3rd 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 period. Finally, GAMMA Investing LLC grew its stake in Dropbox by 133.3% during the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after acquiring an additional 1,650 shares in the last quarter. Hedge funds and other 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.