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

Dropbox, Inc. (NASDAQ:DBX) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.86.

Separately, Jefferies Financial Group boosted their target price on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded up $0.07 during trading on Monday, reaching $30.07. 3,654,628 shares of the stock were exchanged, compared to its average volume of 2,994,240. Dropbox has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The firm’s 50-day moving average price is $28.49 and its 200 day moving average price is $25.48.

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now directly owns 321,871 shares of the company’s stock, valued at $8,500,613.11. This represents a 0.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the transaction, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,829 shares of company stock valued at $8,178,820. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Dropbox

A number of institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in shares of Dropbox during the 3rd quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter valued at approximately $31,000. UMB Bank n.a. raised its position in shares of Dropbox by 2,479.4% during the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,686 shares in the last quarter. Quarry LP raised its position in shares of Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Dropbox by 133.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after acquiring an additional 1,650 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

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.