Dropbox (NASDAQ:DBX) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Dropbox (NASDAQ:DBX) had its price objective upped by research analysts at Jefferies Financial Group from $27.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 1.42% from the company’s current price.

Dropbox Stock Performance

Shares of DBX opened at $29.58 on Monday. Dropbox has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The firm’s 50-day simple moving average is $28.59 and its two-hundred day simple moving average is $25.57. The stock has a market cap of $9.16 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61.

Insider Activity at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $25.71, for a total transaction of $64,275.00. Following the sale, the chief financial officer now owns 464,247 shares in the company, valued at $11,935,790.37. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the sale, the insider now directly owns 321,871 shares of the company’s stock, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 792,152 shares of company stock valued at $23,309,897 in the last 90 days. Corporate insiders own 26.40% of the company’s stock.

Institutional Trading of Dropbox

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in Dropbox in the third quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of Dropbox during the 3rd quarter valued at $31,000. Quarry LP boosted its stake 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 buying an additional 880 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after buying an additional 1,686 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Dropbox by 133.3% in the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock worth $73,000 after acquiring an additional 1,650 shares during the period. Institutional investors own 94.84% of the company’s stock.

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.