Dropbox, Inc. (NASDAQ:DBX) Receives $28.67 Average PT from Brokerages

Shares of Dropbox, Inc. (NASDAQ:DBX) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $28.67.

Separately, UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total transaction of $64,275.00. Following the sale, the chief financial officer now directly owns 464,247 shares in the company, valued at $11,935,790.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total value of $64,275.00. Following the sale, the chief financial officer now directly owns 464,247 shares in the company, valued at approximately $11,935,790.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 351,306 shares of Dropbox stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $207,658,649.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 459,952 shares of company stock worth $11,544,337 in the last ninety days. Company insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently bought and sold shares of the company. State of Michigan Retirement System lifted its stake in Dropbox by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 62,900 shares of the company’s stock worth $1,528,000 after purchasing an additional 1,400 shares in the last quarter. Graphene Investments SAS lifted its stake in Dropbox by 26.8% in the 1st quarter. Graphene Investments SAS now owns 132,600 shares of the company’s stock worth $3,222,000 after purchasing an additional 28,000 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Dropbox by 74.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 29,599 shares of the company’s stock worth $719,000 after purchasing an additional 12,675 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Dropbox by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 321,699 shares of the company’s stock worth $7,817,000 after purchasing an additional 845 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Dropbox by 21.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,118,210 shares of the company’s stock worth $27,173,000 after purchasing an additional 200,775 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Price Performance

Shares of DBX stock opened at $26.23 on Tuesday. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. The business has a fifty day moving average of $25.16 and a 200 day moving average of $23.64. Dropbox has a 1 year low of $20.68 and a 1 year high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. As a group, equities research analysts expect that Dropbox will post 1.31 earnings per share for the current year.

Dropbox Company Profile

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.