Dropbox (NASDAQ:DBX) Releases Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Dropbox (NASDAQ:DBX) issued its quarterly earnings data on Thursday. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11), Zacks reports. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%.

Dropbox Trading Down 2.4 %

NASDAQ DBX traded down $0.79 during mid-day trading on Thursday, reaching $31.88. 6,605,444 shares of the company’s stock traded hands, compared to its average volume of 2,927,851. Dropbox has a 1-year low of $20.68 and a 1-year high of $33.33. The company has a fifty day simple moving average of $31.03 and a 200-day simple moving average of $27.48. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.77 and a beta of 0.61.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised their price objective on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Monday, December 30th. The stock was 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 owns 413,764 shares in the company, valued at approximately $12,570,150.32. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 137,499 shares of Dropbox stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $248,413,313.30. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 900,238 shares of company stock worth $26,680,195 in the last 90 days. 28.59% of the stock is owned by corporate insiders.

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.