Insider Selling: Dropbox (NASDAQ:DBX) CTO Sells $198,801.72 in Stock

Dropbox, Inc. (NASDAQ:DBX) CTO Ali Dasdan sold 7,146 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $27.82, for a total transaction of $198,801.72. Following the transaction, the chief technology officer owned 588,793 shares in the company, valued at approximately $16,380,221.26. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ali Dasdan also recently made the following trade(s):

• On Monday, August 18th, Ali Dasdan sold 5,666 shares of Dropbox stock. The stock was sold at an average price of $27.30, for a total transaction of $154,681.80.

Dropbox Stock Up 0.5%

Shares of DBX opened at $28.42 on Thursday. The company’s fifty day moving average is $27.66 and its 200-day moving average is $28.05. Dropbox, Inc. has a 12 month low of $22.72 and a 12 month high of $33.33. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 3.81 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The company had revenue of $625.70 million for the quarter, compared to analyst estimates of $618.60 million. During the same quarter in the prior year, the business posted $0.60 EPS. Dropbox’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of Dropbox

Hedge funds have recently bought and sold shares of the stock. Elequin Capital LP boosted its holdings in Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after purchasing an additional 469 shares during the period. Neo Ivy Capital Management bought a new stake in Dropbox in the 2nd quarter valued at $30,000. True Wealth Design LLC boosted its holdings in Dropbox by 191.0% in the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock valued at $31,000 after purchasing an additional 680 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after purchasing an additional 558 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in Dropbox by 250.3% in the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock valued at $37,000 after purchasing an additional 991 shares during the period. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DBX. UBS Group dropped their price target on shares of Dropbox from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Citigroup raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dropbox has an average rating of “Hold” and an average price target of $30.33.

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.