Insider Selling: Dropbox (NASDAQ:DBX) CTO Sells 5,666 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CTO Ali Dasdan sold 5,666 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.56, for a total transaction of $156,154.96. Following the completion of the sale, the chief technology officer owned 514,611 shares of the company’s stock, valued at approximately $14,182,679.16. This represents a 1.09% decrease in their position. The sale was disclosed in a legal 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, February 26th, Ali Dasdan sold 7,306 shares of Dropbox stock. The shares were sold at an average price of $24.89, for a total transaction of $181,846.34.

Dropbox Stock Down 1.6%

DBX stock traded down $0.45 during trading 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. Dropbox, Inc. has a one year low of $21.69 and a one year high of $32.40. The company’s 50 day moving average is $24.55 and its two-hundred day moving average is $26.41. The company 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 (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. As a group, research analysts predict that Dropbox, Inc. will post 2.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management boosted its holdings in shares of Dropbox by 1.1% in the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock worth $326,251,000 after buying an additional 121,999 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after acquiring an additional 960,109 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Dropbox by 1.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock worth $153,935,000 after acquiring an additional 70,867 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Dropbox by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock worth $75,626,000 after acquiring an additional 596,440 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Dropbox by 22.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock worth $70,015,000 after acquiring an additional 463,258 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DBX has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. William Blair reiterated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Royal Bank Of Canada boosted their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target 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.