William T. Yoon Sells 5,449 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider William T. Yoon sold 5,449 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $157,694.06. Following the completion of the transaction, the insider now owns 245,837 shares of the company’s stock, valued at approximately $7,114,522.78. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dropbox Trading Down 0.3%

Dropbox stock opened at $28.59 on Thursday. The stock has a market cap of $8.05 billion, a PE ratio of 20.28, a P/E/G ratio of 1.70 and a beta of 0.68. The stock has a 50-day moving average price of $27.64 and a 200 day moving average price of $28.70. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.

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

Institutional Trading of Dropbox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in Dropbox by 1.9% during the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock worth $228,202,000 after purchasing an additional 157,148 shares in the last quarter. Intech Investment Management LLC boosted its stake in Dropbox by 33.4% in the 1st quarter. Intech Investment Management LLC now owns 200,793 shares of the company’s stock worth $5,363,000 after buying an additional 50,305 shares during the last quarter. Bayforest Capital Ltd boosted its stake in Dropbox by 106.3% in the 1st quarter. Bayforest Capital Ltd now owns 10,437 shares of the company’s stock worth $279,000 after buying an additional 5,377 shares during the last quarter. Empowered Funds LLC boosted its stake in Dropbox by 7.3% in the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after buying an additional 2,655 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in Dropbox in the 1st quarter worth about $263,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.