Dropbox, Inc. (NASDAQ:DBX) Receives $28.67 Average Price Target from Analysts

Shares of Dropbox, Inc. (NASDAQ:DBX) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat reports. Two investment 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. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $28.67.

A number of brokerages have commented on DBX. UBS Group lowered their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Citigroup decreased their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 351,306 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $207,658,649.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.76, for a total transaction of $68,280.00. Following the sale, the chief financial officer now directly owns 535,122 shares in the company, valued at $12,179,376.72. This 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. Also, CEO Andrew Houston sold 351,306 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total value of $8,824,806.72. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $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 sold a total of 464,952 shares of company stock valued at $11,642,212 in the last quarter. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cooper Financial Group boosted its position in shares of Dropbox by 3.1% in the 1st quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock worth $379,000 after purchasing an additional 462 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of Dropbox by 6.5% in the 2nd quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock worth $219,000 after purchasing an additional 597 shares during the last quarter. Tobam boosted its position in shares of Dropbox by 4.1% in the 2nd quarter. Tobam now owns 19,642 shares of the company’s stock worth $441,000 after purchasing an additional 767 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of 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 during the last quarter. Finally, Quarry LP boosted its position in shares of Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after purchasing an additional 880 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox Stock Down 0.6 %

Shares of Dropbox stock opened at $25.37 on Friday. The stock’s fifty day moving average is $23.93 and its 200-day moving average is $23.30. The firm has a market capitalization of $8.38 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. Dropbox has a 12-month low of $20.68 and a 12-month high of $33.43.

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

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.