Dropbox, Inc. (NASDAQ:DBX) Receives $29.56 Average Price Target from Analysts

Shares of Dropbox, Inc. (NASDAQ:DBX) have earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $29.56.

Separately, Citigroup decreased their target price on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th.

Dropbox Trading Up 0.2 %

DBX opened at $22.47 on Wednesday. Dropbox has a 12 month low of $20.68 and a 12 month high of $33.43. The business’s 50-day moving average price is $22.69 and its 200-day moving average price is $25.79. The company has a market cap of $7.42 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.56 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 9th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The company had revenue of $631.30 million for the quarter, compared to the consensus estimate of $628.81 million. Equities research analysts forecast that Dropbox will post 1.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric Cox sold 8,536 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the completion of the transaction, the insider now owns 350,471 shares of the company’s stock, valued at approximately $7,454,518.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $23.11, for a total transaction of $69,330.00. Following the completion of the transaction, the chief financial officer now owns 594,995 shares in the company, valued at $13,750,334.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Cox sold 8,536 shares of Dropbox stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total transaction of $181,560.72. Following the completion of the sale, the insider now owns 350,471 shares in the company, valued at $7,454,518.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,218 shares of company stock valued at $4,534,619. 26.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DBX. GAMMA Investing LLC bought a new stake in shares of Dropbox in the 4th quarter worth about $25,000. Contravisory Investment Management Inc. purchased a new stake in shares of Dropbox in the 4th quarter worth $26,000. Principal Securities Inc. bought a new position in shares of Dropbox during the 4th quarter worth $34,000. Sound Income Strategies LLC bought a new position in shares of Dropbox during the 1st quarter worth $28,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Dropbox by 29,175.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock valued at $32,000 after buying an additional 1,167 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.