Dropbox Inc (NASDAQ:DBX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $18.33, but opened at $18.92. Dropbox shares last traded at $19.32, with a volume of 2,162,637 shares traded.
Several analysts have recently issued reports on DBX shares. DA Davidson dropped coverage on shares of Dropbox in a research report on Friday, August 9th. Macquarie dropped coverage on shares of Dropbox in a research report on Thursday, September 26th. Sanford C. Bernstein started coverage on shares of Dropbox in a research report on Wednesday, August 7th. They set an “underperform” rating and a $19.00 price target on the stock. Canaccord Genuity dropped coverage on shares of Dropbox in a research report on Friday, September 27th. Finally, TheStreet cut shares of Dropbox from a “c-” rating to a “d+” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. Dropbox has a consensus rating of “Buy” and a consensus price target of $28.30.
The company’s fifty day moving average is $19.53 and its two-hundred day moving average is $21.87. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of -14.75 and a beta of 1.57. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.99.
Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.15. The firm had revenue of $401.50 million for the quarter, compared to analysts’ expectations of $401.09 million. Dropbox had a negative net margin of 2.91% and a negative return on equity of 6.57%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. Sell-side analysts predict that Dropbox Inc will post -0.12 EPS for the current fiscal year.
In related news, insider Quentin Clark sold 16,674 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $24.56, for a total value of $409,513.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ajay Vashee sold 13,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.02, for a total transaction of $289,025.00. In the last ninety days, insiders sold 89,617 shares of company stock worth $1,850,872. 31.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Whittier Trust Co. purchased a new position in Dropbox in the third quarter valued at approximately $27,000. Meridian Wealth Management LLC purchased a new position in Dropbox in the second quarter valued at approximately $34,000. Glen Harbor Capital Management LLC increased its stake in Dropbox by 203.0% in the second quarter. Glen Harbor Capital Management LLC now owns 1,600 shares of the company’s stock valued at $40,000 after purchasing an additional 1,072 shares during the last quarter. CSat Investment Advisory L.P. purchased a new position in Dropbox in the second quarter valued at approximately $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Dropbox in the second quarter valued at approximately $55,000. 40.48% of the stock is currently owned by hedge funds and other institutional investors.
Dropbox Company Profile (NASDAQ:DBX)
Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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