Eric Cox Sells 2,339 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider Eric Cox sold 2,339 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $67,690.66. Following the completion of the transaction, the insider now directly owns 378,427 shares of the company’s stock, valued at approximately $10,951,677.38. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Eric Cox also recently made the following trade(s):

• On Thursday, February 27th, Eric Cox sold 3,765 shares of Dropbox stock. The stock was sold at an average price of $26.30, for a total value of $99,019.50.

Dropbox Price Performance

DBX stock opened at $28.67 on Wednesday. The business has a fifty day moving average price of $27.58 and a 200 day moving average price of $28.70. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $619.56 million. During the same period last year, the firm posted $0.58 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DBX has been the subject of a number of recent research reports. Citigroup increased their target price on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. UBS Group raised their price target on Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 9th.

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently bought and sold shares of DBX. Wedge Capital Management L L P NC increased its holdings in Dropbox by 1,640.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company’s stock valued at $57,187,000 after purchasing an additional 2,017,997 shares in the last quarter. Seizert Capital Partners LLC boosted its position in Dropbox by 524.8% in the 1st quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company’s stock valued at $50,198,000 after buying an additional 1,578,566 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Dropbox by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after buying an additional 1,440,887 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Dropbox by 291.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company’s stock valued at $54,007,000 after buying an additional 1,338,234 shares during the last quarter. Finally, LSV Asset Management boosted its position in Dropbox by 24.0% in the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock valued at $193,641,000 after buying an additional 1,245,563 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Company Profile

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.