Dropbox, Inc. (NASDAQ:DBX) Given Consensus Recommendation of “Hold” by Analysts

Dropbox, Inc. (NASDAQ:DBX) has been given an average recommendation of “Hold” by the ten research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $29.56.

Separately, Citigroup reduced their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th.

Insider Activity

In other Dropbox news, CEO Andrew Houston sold 82,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $23.12, for a total value of $69,360.00. Following the completion of the sale, the chief financial officer now directly owns 554,122 shares of the company’s stock, valued at approximately $12,811,300.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total value of $1,922,080.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $193,770,651.04. The disclosure for this sale can be found here. Insiders have sold 293,536 shares of company stock valued at $6,665,491 in the last ninety days. 26.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DBX. GAMMA Investing LLC purchased a new stake in shares of Dropbox in the fourth quarter worth approximately $25,000. Principal Securities Inc. purchased a new stake in Dropbox in the 4th quarter valued at $34,000. Sound Income Strategies LLC purchased a new stake in Dropbox in the 1st quarter valued at $28,000. Avalon Trust Co bought a new position in Dropbox during the 4th quarter valued at $39,000. Finally, Fifth Third Bancorp boosted its holdings in Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after acquiring an additional 1,169 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Up 2.2 %

NASDAQ DBX opened at $24.00 on Friday. Dropbox has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a 50-day moving average price of $22.38 and a two-hundred day moving average price of $24.94. The company has a market capitalization of $7.92 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.64 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.13. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. Equities analysts expect that Dropbox will post 1.26 EPS for the current year.

Dropbox Company Profile

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.