Dropbox, Inc. (NASDAQ:DBX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Dropbox, Inc. (NASDAQ:DBX) have been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $28.67.

Separately, UBS Group lowered their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 3,177 shares of Dropbox stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the transaction, the chief financial officer now owns 481,747 shares in the company, valued at approximately $12,043,675. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dropbox news, CEO Andrew Houston sold 3,493 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $206,666,650. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Timothy Regan sold 3,177 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $79,425.00. Following the completion of the transaction, the chief financial officer now owns 481,747 shares in the company, valued at $12,043,675. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 457,452 shares of company stock worth $11,480,062 over the last three months. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Dropbox

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in Dropbox by 0.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock valued at $2,267,000 after purchasing an additional 383 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Dropbox by 6.5% during the 2nd quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock valued at $219,000 after purchasing an additional 597 shares in the last quarter. Tobam increased its position in shares of Dropbox by 4.1% during the second quarter. Tobam now owns 19,642 shares of the company’s stock valued at $441,000 after buying an additional 767 shares during the period. Retirement Systems of Alabama lifted its holdings in Dropbox by 0.3% in the first quarter. Retirement Systems of Alabama now owns 321,699 shares of the company’s stock worth $7,817,000 after buying an additional 845 shares during the period. Finally, Quarry LP boosted its position in Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Down 3.3 %

NASDAQ:DBX opened at $25.15 on Tuesday. Dropbox has a twelve month low of $20.68 and a twelve month high of $33.43. The stock has a market cap of $8.30 billion, a P/E ratio of 16.66, a PEG ratio of 1.61 and a beta of 0.61. The business’s 50-day moving average price is $24.94 and its two-hundred day moving average price is $23.52.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. Dropbox’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. On average, equities research analysts expect that Dropbox will post 1.31 EPS for the current fiscal year.

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.