Dropbox (NASDAQ:DBX) Announces Quarterly Earnings Results

Dropbox (NASDAQ:DBXGet 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

A number of hedge funds have recently made changes to their positions in DBX. Baupost Group LLC MA lifted its stake in shares of Dropbox by 30.6% during the 1st quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock worth $245,777,000 after purchasing an additional 2,476,021 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Dropbox by 200.6% during the 1st quarter. Mackenzie Financial Corp now owns 209,760 shares of the company’s stock worth $4,877,000 after purchasing an additional 139,990 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Dropbox by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,451,608 shares of the company’s stock valued at $57,000,000 after buying an additional 115,502 shares during the last quarter. Eaton Vance Management raised its stake in Dropbox by 3.2% in the first quarter. Eaton Vance Management now owns 3,670,636 shares of the company’s stock valued at $85,342,000 after buying an additional 113,180 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in Dropbox by 233.0% in the first quarter. Blair William & Co. IL now owns 102,489 shares of the company’s stock valued at $2,383,000 after buying an additional 71,708 shares during the last quarter. 61.40% of the stock is currently owned by hedge funds and other institutional investors.

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

(Get Rating)

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.

Featured Articles

Earnings History for Dropbox (NASDAQ:DBX)

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.