Dropbox, Inc. (NASDAQ:DBX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Dropbox, Inc. (NASDAQ:DBX) have earned an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $28.67.

A number of analysts have recently commented on DBX shares. Citigroup cut their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. UBS Group cut their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $68,280.00. Following the completion of the transaction, the chief financial officer now directly owns 535,122 shares of the company’s stock, valued at $12,179,376.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Dropbox news, insider Bart Volkmer sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $159,320.00. Following the sale, the insider now owns 333,934 shares in the company, valued at $7,600,337.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $68,280.00. Following the transaction, the chief financial officer now owns 535,122 shares of the company’s stock, valued at $12,179,376.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 464,952 shares of company stock valued at $11,642,212. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Several hedge funds have recently added to or reduced their stakes in the business. Cooper Financial Group increased its holdings in shares of Dropbox by 3.1% in the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after purchasing an additional 462 shares during the last quarter. iA Global Asset Management Inc. grew its stake in Dropbox by 6.5% in the 2nd quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock valued at $219,000 after buying an additional 597 shares during the last quarter. Tobam raised its holdings in Dropbox by 4.1% in the 2nd quarter. Tobam now owns 19,642 shares of the company’s stock valued at $441,000 after acquiring an additional 767 shares during the period. Retirement Systems of Alabama lifted its position in Dropbox by 0.3% during the first quarter. Retirement Systems of Alabama now owns 321,699 shares of the company’s stock worth $7,817,000 after acquiring an additional 845 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after acquiring an additional 880 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ DBX opened at $25.53 on Friday. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.55 and a beta of 0.61. The business has a 50 day simple moving average of $23.90 and a 200 day simple moving average of $23.31. Dropbox has a 52-week low of $20.68 and a 52-week high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $634.50 million during 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%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, analysts predict that Dropbox will post 1.31 EPS for the current 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.