Brokerages Set Dropbox, Inc. (NASDAQ:DBX) Price Target at $28.67

Dropbox, Inc. (NASDAQ:DBX) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.67.

Separately, UBS Group dropped 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.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.18, for a total transaction of $65,450.00. Following the completion of the transaction, the chief financial officer now directly owns 466,747 shares of the company’s stock, valued at $12,219,436.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.18, for a total transaction of $65,450.00. Following the completion of the transaction, the chief financial officer now directly owns 466,747 shares in the company, valued at $12,219,436.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 351,306 shares of Dropbox stock in a transaction dated 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 sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $207,658,649.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 459,952 shares of company stock worth $11,544,337. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Several large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its stake in Dropbox by 63.0% in the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after purchasing an additional 2,881,981 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Dropbox by 63.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after buying an additional 986,942 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after buying an additional 859,233 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Dropbox by 68.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock worth $47,397,000 after acquiring an additional 790,191 shares during the period. Finally, Distillate Capital Partners LLC acquired a new position in shares of Dropbox during the 2nd quarter worth approximately $14,291,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Price Performance

Dropbox stock opened at $25.98 on Tuesday. The company’s 50 day simple moving average is $25.12 and its 200 day simple moving average is $23.61. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.63 and a beta of 0.61. Dropbox has a fifty-two week low of $20.68 and a fifty-two week 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 (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. As a group, analysts predict that Dropbox will post 1.31 EPS for the current fiscal 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.