Karen Peacock Sells 4,000 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 4,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.50, for a total transaction of $106,000.00. Following the completion of the sale, the director directly owned 17,295 shares in the company, valued at approximately $458,317.50. This represents a 18.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Up 0.1%

Shares of DBX stock opened at $27.56 on Thursday. The company’s fifty day simple moving average is $24.58 and its 200-day simple moving average is $26.40. The firm has a market cap of $6.43 billion, a PE ratio of 15.06, a P/E/G ratio of 3.10 and a beta of 0.64. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40.

Dropbox (NASDAQ:DBX) last announced 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. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts predict that Dropbox, Inc. will post 2.03 earnings per share for the current fiscal year.

Trending Headlines about Dropbox

Here are the key news stories impacting Dropbox this week:

• Positive Sentiment: Dropbox’s latest quarterly results beat expectations on both earnings and revenue, reinforcing that the company is still producing steady profitability despite modest top-line growth.
• Positive Sentiment: Analysts have turned somewhat more upbeat, with Royal Bank of Canada raising its price target to $32 and Wall Street Zen upgrading the stock to buy, helping support sentiment around DBX.
• Neutral Sentiment: Several insiders, including CEO Andrew Houston, a director, CTO, and CAO, sold shares under pre-arranged 10b5-1 plans; some of the sales were tied to tax withholding on equity vesting, so the activity is not necessarily a negative fundamental signal. Article Title
• Neutral Sentiment: DBX is trading around the middle of its 52-week range, suggesting investors are balancing improving earnings execution against slower revenue growth and mixed analyst ratings. Article Title

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. UBS Group dropped their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. Royal Bank Of Canada upped their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Dropbox has an average rating of “Reduce” and a consensus price target of $27.00.

Institutional Trading of Dropbox

Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in Dropbox by 68.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock valued at $47,000 after buying an additional 831 shares during the period. California State Teachers Retirement System raised its stake in Dropbox by 18.4% in the first quarter. California State Teachers Retirement System now owns 206,493 shares of the company’s stock valued at $4,692,000 after buying an additional 32,041 shares during the period. Empowered Funds LLC raised its stake in Dropbox by 12.9% in the first quarter. Empowered Funds LLC now owns 116,220 shares of the company’s stock valued at $2,641,000 after buying an additional 13,244 shares during the period. Lombard Odier Asset Management USA Corp bought a new stake in Dropbox in the first quarter valued at approximately $266,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Dropbox by 12.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after buying an additional 960,109 shares during the period. Institutional investors own 94.84% of the company’s stock.

About Dropbox

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.