Dropbox (NASDAQ:DBX – Get Rating) announced its quarterly earnings data on Thursday. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01, Briefing.com reports. The company had revenue of $572.70 million for the quarter, compared to the consensus estimate of $571.27 million. Dropbox had a negative return on equity of 112.42% and a net margin of 15.19%. Dropbox’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS.
Dropbox Trading Down 1.8 %
Shares of DBX traded down $0.44 during midday trading on Friday, reaching $23.55. 3,416,125 shares of the stock were exchanged, compared to its average volume of 2,346,523. Dropbox has a 52 week low of $19.07 and a 52 week high of $33.00. The company’s 50 day moving average is $22.06 and its two-hundred day moving average is $22.35. The company has a market capitalization of $8.85 billion, a P/E ratio of 26.46 and a beta of 0.84.
Insider Transactions at Dropbox
In other news, President Timothy H. Young sold 15,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $22.68, for a total transaction of $340,200.00. Following the transaction, the president now owns 1,617,257 shares of the company’s stock, valued at approximately $36,679,388.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $19.12, for a total transaction of $47,800.00. Following the completion of the sale, the chief financial officer now directly owns 534,973 shares in the company, valued at approximately $10,228,683.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Timothy H. Young sold 15,000 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $22.68, for a total value of $340,200.00. Following the sale, the president now owns 1,617,257 shares of the company’s stock, valued at $36,679,388.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,086 shares of company stock valued at $2,055,883. 25.05% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Dropbox
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group cut their price objective on Dropbox from $35.00 to $30.00 in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Dropbox has a consensus rating of “Moderate Buy” and an average target price of $30.75.
Dropbox Company Profile
Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers the following products: Dropbox Basic, Dropbox Plus, Dropbox Professional, and Dropbox Business. The Dropbox Basic is the simple, powerful home for photos, videos, documents, and other files.
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