Insider Selling: Dropbox, Inc. (NASDAQ:DBX) Insider Sells $283,753.80 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider Ashraf Alkarmi sold 10,098 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.10, for a total value of $283,753.80. Following the completion of the sale, the insider now owns 492,856 shares in the company, valued at approximately $13,849,253.60. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Dropbox Price Performance

NASDAQ DBX opened at $28.32 on Friday. The firm has a market cap of $7.97 billion, a PE ratio of 18.51 and a beta of 0.66. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock’s 50 day simple moving average is $28.54 and its 200 day simple moving average is $28.88.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The company had revenue of $624.70 million for the quarter, compared to analysts’ expectations of $619.56 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DBX shares. Citigroup upped their price objective on Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. UBS Group upped 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.

Institutional Trading of Dropbox

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its position in Dropbox by 68.0% in the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock valued at $1,086,000 after buying an additional 14,629 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Dropbox by 185.2% in the fourth quarter. Intech Investment Management LLC now owns 150,488 shares of the company’s stock valued at $4,521,000 after acquiring an additional 97,725 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Dropbox by 4.3% in the fourth quarter. HighTower Advisors LLC now owns 27,707 shares of the company’s stock valued at $832,000 after acquiring an additional 1,131 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Dropbox in the fourth quarter valued at about $25,375,000. Finally, IFP Advisors Inc boosted its holdings in Dropbox by 436.7% in the fourth quarter. IFP Advisors Inc now owns 3,322 shares of the company’s stock valued at $101,000 after acquiring an additional 2,703 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

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.