Dropbox, Inc. (NASDAQ:DBX) Insider Sells $61,535.30 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider Eric Cox sold 2,330 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dropbox Trading Up 2.8 %

Shares of DBX opened at $27.64 on Friday. The company’s fifty day simple moving average is $25.94 and its 200 day simple moving average is $23.96. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.49 and a beta of 0.61.

Institutional Investors Weigh In On Dropbox

Several hedge funds have recently bought and sold shares of DBX. Capital Performance Advisors LLP bought a new stake in Dropbox in the third quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in Dropbox in the 3rd quarter valued at $31,000. GAMMA Investing LLC raised its stake in Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after acquiring an additional 907 shares during the period. Fifth Third Bancorp lifted its holdings in Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after purchasing an additional 1,169 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Dropbox by 2,479.4% during the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,686 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Dropbox currently has a consensus rating of “Hold” and an average target price of $28.67.

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.