Dropbox, Inc. (NASDAQ:DBX) Insider Eric Cox Sells 2,339 Shares

Dropbox, Inc. (NASDAQ:DBX) insider Eric Cox sold 2,339 shares of Dropbox stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $67,690.66. Following the transaction, the insider now directly owns 378,427 shares in the company, valued at approximately $10,951,677.38. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eric Cox also recently made the following trade(s):

• On Thursday, February 27th, Eric Cox sold 3,765 shares of Dropbox stock. The stock was sold at an average price of $26.30, for a total value of $99,019.50.

Dropbox Stock Performance

NASDAQ:DBX traded down $0.21 during trading hours on Monday, hitting $28.70. The company’s stock had a trading volume of 3,371,713 shares, compared to its average volume of 3,610,591. The company has a market capitalization of $8.08 billion, a PE ratio of 20.35, a PEG ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The business’s 50-day moving average is $27.43 and its two-hundred day moving average is $28.68.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 EPS. As a group, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. UBS Group raised their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 9th.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently modified their holdings of the company. Bayforest Capital Ltd increased its stake in Dropbox by 106.3% in the 1st quarter. Bayforest Capital Ltd now owns 10,437 shares of the company’s stock valued at $279,000 after purchasing an additional 5,377 shares in the last quarter. Empowered Funds LLC increased its position in shares of Dropbox by 7.3% in the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after buying an additional 2,655 shares in the last quarter. Fred Alger Management LLC acquired a new position in shares of Dropbox during the 1st quarter worth $263,000. Ashton Thomas Private Wealth LLC raised its stake in shares of Dropbox by 38.9% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 42,549 shares of the company’s stock worth $1,136,000 after buying an additional 11,910 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of Dropbox in the 1st quarter worth about $2,027,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.