Dropbox (NASDAQ:DBX) PT Lowered to $28.00

Dropbox (NASDAQ:DBX) had its target price dropped by analysts at UBS Group from $30.00 to $28.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 24.78% from the stock’s current price.

Separately, Citigroup lowered their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and an average target price of $29.14.

Dropbox Price Performance

Shares of Dropbox stock traded up $0.71 during trading on Friday, hitting $22.44. 6,010,756 shares of the company’s stock traded hands, compared to its average volume of 4,035,235. Dropbox has a 1 year low of $20.68 and a 1 year high of $33.43. The business has a 50-day simple moving average of $22.33 and a 200-day simple moving average of $24.25. The stock has a market capitalization of $7.41 billion, a P/E ratio of 14.86, a PEG ratio of 1.61 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The company had revenue of $631.30 million for the quarter, compared to the consensus estimate of $628.81 million. On average, equities analysts predict that Dropbox will post 1.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Eric Cox sold 8,536 shares of Dropbox stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $21.27, for a total value of $181,560.72. Following the sale, the insider now owns 350,471 shares of the company’s stock, valued at approximately $7,454,518.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Dropbox news, insider Eric Cox sold 8,536 shares of Dropbox stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the completion of the transaction, the insider now directly owns 350,471 shares of the company’s stock, valued at approximately $7,454,518.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $23.12, for a total transaction of $69,360.00. Following the sale, the chief financial officer now owns 554,122 shares in the company, valued at $12,811,300.64. The disclosure for this sale can be found here. Insiders sold 208,536 shares of company stock valued at $4,672,611 in the last 90 days. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently made changes to their positions in DBX. AGF Management Ltd. bought a new stake in shares of Dropbox during the 4th quarter worth approximately $2,935,000. Vanguard Group Inc. boosted its stake in shares of Dropbox by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after purchasing an additional 105,250 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Dropbox by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock worth $88,151,000 after purchasing an additional 98,568 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Dropbox in the 1st quarter worth about $4,900,000. Finally, Seizert Capital Partners LLC increased its stake in Dropbox by 31.7% in the 4th quarter. Seizert Capital Partners LLC now owns 254,469 shares of the company’s stock worth $7,502,000 after buying an additional 61,292 shares during the period. Hedge funds and other 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.