Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CTO Ali Dasdan sold 5,666 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.56, for a total value of $156,154.96. Following the completion of the transaction, the chief technology officer owned 514,611 shares in the company, valued at approximately $14,182,679.16. The trade was a 1.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ali Dasdan also recently made the following trade(s):
- On Thursday, February 26th, Ali Dasdan sold 7,306 shares of Dropbox stock. The stock was sold at an average price of $24.89, for a total value of $181,846.34.
Dropbox Stock Down 1.1%
Shares of DBX opened at $27.25 on Friday. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 3.11 and a beta of 0.64. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40. The stock has a 50 day moving average price of $24.60 and a 200 day moving average price of $26.38.
Institutional Trading of Dropbox
Large investors have recently bought and sold shares of the business. Rossby Financial LCC boosted its stake in Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after purchasing an additional 527 shares during the period. Palisade Asset Management LLC purchased a new stake in shares of Dropbox in the third quarter valued at about $30,000. First Horizon Corp purchased a new stake in shares of Dropbox in the third quarter valued at about $31,000. Kestra Advisory Services LLC acquired a new stake in shares of Dropbox during the fourth quarter worth about $31,000. Finally, Larson Financial Group LLC boosted its stake in shares of Dropbox by 228.0% during the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after buying an additional 791 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.
Wall Street Analysts Forecast Growth
DBX has been the subject of a number of research reports. Royal Bank Of Canada boosted their price target on shares of Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Finally, UBS Group decreased their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Dropbox presently has a consensus rating of “Reduce” and a consensus price target of $27.00.
Read Our Latest Report on Dropbox
About Dropbox
Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.
At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.
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