Dropbox (NASDAQ:DBX) Releases Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Dropbox (NASDAQ:DBX) issued its quarterly earnings results on Thursday. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11), Zacks reports. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%.

Dropbox Stock Performance

Dropbox stock traded down $0.79 during midday trading on Thursday, reaching $31.88. The company’s stock had a trading volume of 6,640,737 shares, compared to its average volume of 2,931,267. Dropbox has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The stock’s 50 day simple moving average is $31.03 and its 200 day simple moving average is $27.48. The firm has a market capitalization of $9.87 billion, a PE ratio of 18.43, a P/E/G ratio of 1.77 and a beta of 0.61.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $256,018,646.02. The trade was a 0.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at $12,755,738.16. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is owned by company insiders.

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.