Dropbox (NASDAQ:DBX) Insider William Yoon Sells 7,230 Shares

Dropbox, Inc. (NASDAQ:DBX) insider William Yoon sold 7,230 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.57, for a total value of $199,331.10. Following the completion of the transaction, the insider owned 366,963 shares in the company, valued at approximately $10,117,169.91. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dropbox Trading Down 1.6%

Shares of Dropbox stock traded down $0.45 during trading hours on Tuesday, reaching $27.53. The stock had a trading volume of 4,028,469 shares, compared to its average volume of 3,994,343. The firm has a 50 day simple moving average of $24.55 and a two-hundred day simple moving average of $26.41. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 3.02 and a beta of 0.64. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. Sell-side analysts forecast that Dropbox, Inc. will post 2.03 EPS for the current year.

Institutional Investors Weigh In On Dropbox

A number of hedge funds have recently bought and sold shares of DBX. WealthCollab LLC raised its holdings in shares of Dropbox by 20.6% during the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after purchasing an additional 403 shares during the period. Parallel Advisors LLC grew its position in shares of Dropbox by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after buying an additional 440 shares during the last quarter. Lakewood Asset Management LLC raised its stake in Dropbox by 1.0% during the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after acquiring an additional 458 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Dropbox by 1.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock worth $730,000 after acquiring an additional 466 shares during the last quarter. Finally, Merit Financial Group LLC lifted its holdings in Dropbox by 4.4% in the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after acquiring an additional 480 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. JPMorgan Chase & Co. cut their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. William Blair reiterated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Citigroup raised their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada raised their target price on Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $27.00.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.