Lisa Campbell Sells 4,598 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Lisa Campbell sold 4,598 shares of Dropbox stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $34.78, for a total transaction of $159,918.44. Following the transaction, the director directly owned 19,471 shares in the company, valued at approximately $677,201.38. This trade represents a 19.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dropbox Stock Up 1.3%

DBX opened at $35.05 on Friday. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $36.37. The company has a 50 day moving average of $32.69 and a two-hundred day moving average of $28.04. The company has a market cap of $7.91 billion, a P/E ratio of 19.47, a P/E/G ratio of 5.09 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. Research analysts anticipate that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Palisade Asset Management LLC purchased a new stake in shares of Dropbox during the third quarter worth about $30,000. Kestra Advisory Services LLC acquired a new stake in Dropbox during the 4th quarter valued at approximately $31,000. Larson Financial Group LLC grew its stake in Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after purchasing an additional 791 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Dropbox during the 4th quarter worth approximately $38,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DBX. Weiss Ratings raised Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Zacks Research downgraded Dropbox from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Dropbox in a research report on Thursday, September 3rd. Citigroup upped their price target on Dropbox from $28.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, William Blair raised shares of Dropbox from an “underperform” rating to a “market perform” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Dropbox presently has a consensus rating of “Reduce” and a consensus price target of $30.75.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

The company’s offerings include Dropbox for file management and collaboration, Dropbox Paper for shared document and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.