Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock Sells 7,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the sale, the director now owns 25,295 shares of the company’s stock, valued at approximately $721,666.35. This represents a 21.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Dropbox Price Performance

Dropbox stock opened at $28.67 on Friday. The firm has a market cap of $8.07 billion, a P/E ratio of 20.33, a P/E/G ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock’s 50 day moving average is $27.89 and its 200 day moving average is $28.76.

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

Wall Street Analysts Forecast Growth

DBX has been the topic of several research reports. UBS Group lifted their price target on shares of Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 9th. Citigroup boosted their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th.

Institutional Trading of Dropbox

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after purchasing an additional 424 shares in the last quarter. Avion Wealth boosted its holdings in Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. Elequin Capital LP boosted its holdings in Dropbox by 71.0% in the first quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after acquiring an additional 469 shares in the last quarter. True Wealth Design LLC grew its stake in Dropbox by 191.0% in the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock valued at $31,000 after acquiring an additional 680 shares during the period. Finally, Brooklyn Investment Group grew its stake in Dropbox by 250.3% in the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock valued at $37,000 after acquiring an additional 991 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.