Dropbox Inc (NASDAQ:DBX) CEO Andrew Houston acquired 500,000 shares of the stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $19.14 per share, with a total value of $9,570,000.00. Following the completion of the transaction, the chief executive officer now owns 10,333,333 shares of the company’s stock, valued at approximately $197,779,993.62. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
DBX traded up $0.56 on Wednesday, reaching $19.47. The company’s stock had a trading volume of 389,630 shares, compared to its average volume of 3,601,717. The stock has a 50 day moving average of $19.64 and a two-hundred day moving average of $21.67. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of -14.86 and a beta of 1.56. Dropbox Inc has a fifty-two week low of $17.20 and a fifty-two week high of $26.49.
Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.17. The firm had revenue of $428.20 million during the quarter, compared to the consensus estimate of $423.48 million. Dropbox had a negative return on equity of 6.96% and a negative net margin of 3.49%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share. As a group, analysts anticipate that Dropbox Inc will post -0.12 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC lifted its stake in Dropbox by 4.7% in the second quarter. Private Advisor Group LLC now owns 12,644 shares of the company’s stock valued at $317,000 after buying an additional 565 shares during the last quarter. US Bancorp DE lifted its stake in Dropbox by 10.4% in the second quarter. US Bancorp DE now owns 9,517 shares of the company’s stock valued at $238,000 after buying an additional 900 shares during the last quarter. Emerald Advisers LLC lifted its stake in Dropbox by 2.0% in the second quarter. Emerald Advisers LLC now owns 52,765 shares of the company’s stock valued at $1,322,000 after buying an additional 1,053 shares during the last quarter. Glen Harbor Capital Management LLC lifted 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 buying an additional 1,072 shares during the last quarter. Finally, Whittier Trust Co. purchased a new stake in Dropbox in the third quarter valued at approximately $27,000. 40.18% of the stock is owned by hedge funds and other institutional investors.
DBX has been the subject of a number of analyst reports. William Blair dropped coverage on Dropbox in a research report on Friday, August 9th. ValuEngine raised Dropbox from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie dropped coverage on Dropbox in a research report on Thursday, September 26th. TheStreet downgraded Dropbox from a “c-” rating to a “d+” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group lowered their price objective on Dropbox from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Dropbox currently has a consensus rating of “Buy” and a consensus price target of $28.10.
Dropbox Company Profile
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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