Analysts Set Dropbox, Inc. (NASDAQ:DBX) Target Price at $28.86

Shares of Dropbox, Inc. (NASDAQ:DBX) have received an average recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.86.

Separately, Jefferies Financial Group increased their target price on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday.

Insiders Place Their Bets

In related news, insider Eric Cox sold 2,330 shares of Dropbox stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at approximately $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 29,917 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $30.07, for a total value of $899,604.19. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $248,578,646.62. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 822,069 shares of company stock worth $24,209,501 in the last 90 days. 26.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. CWA Asset Management Group LLC bought a new stake in shares of Dropbox during the 4th quarter valued at about $3,205,000. GAMMA Investing LLC boosted its stake in Dropbox by 122.9% in the fourth quarter. GAMMA Investing LLC now owns 6,436 shares of the company’s stock valued at $193,000 after acquiring an additional 3,548 shares during the period. DGS Capital Management LLC grew its holdings in shares of Dropbox by 22.5% during the third quarter. DGS Capital Management LLC now owns 13,767 shares of the company’s stock valued at $350,000 after purchasing an additional 2,532 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Dropbox by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after purchasing an additional 124,528 shares during the period. Finally, American Trust bought a new stake in shares of Dropbox in the 3rd quarter worth approximately $271,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

DBX opened at $29.74 on Monday. The firm has a 50 day moving average price of $28.66 and a 200 day moving average price of $25.63. The company has a market cap of $9.21 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. Dropbox has a 1 year low of $20.68 and a 1 year high of $33.43.

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.