Dropbox, Inc. (NASDAQ:DBX – Get Free Report) Director Lisa Campbell sold 4,222 shares of Dropbox stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.51, for a total transaction of $111,925.22. Following the sale, the director owned 14,998 shares of the company’s stock, valued at $397,596.98. The trade was a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Dropbox Trading Down 1.6%
NASDAQ:DBX opened at $27.53 on Wednesday. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40. The firm has a fifty day simple moving average of $24.57 and a 200-day simple moving average of $26.40. The company has a market capitalization of $6.42 billion, a P/E ratio of 15.04, a PEG ratio of 3.15 and a beta of 0.64.
Dropbox (NASDAQ:DBX – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities analysts forecast that Dropbox, Inc. will post 2.03 EPS for the current year.
Institutional Inflows and Outflows
Dropbox News Roundup
Here are the key news stories impacting Dropbox this week:
- Positive Sentiment: Dropbox’s latest quarterly report beat Wall Street expectations, with EPS of $0.76 versus $0.71 estimated and revenue of $629.5 million above forecasts, reinforcing the company’s ability to deliver steady profitability. The stock also received a rating upgrade from Wall Street Zen to buy, while RBC recently raised its price target to $32. Article Title
- Neutral Sentiment: Several insiders, including the CEO, CTO, CAO, and two directors, sold shares in recent days. These trades were made under pre-arranged 10b5-1 plans and, in several cases, were tied to tax withholding on vested equity awards, which reduces the likelihood that they signal a fundamental change in outlook. Article Title
- Neutral Sentiment: Dropbox’s stock has also been trading near the middle of its 52-week range, suggesting investors are still balancing solid earnings execution against slower revenue growth and a mixed analyst consensus. Article Title
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada boosted their target price 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. Finally, UBS Group decreased their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $27.00.
Get 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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