Citigroup Trims Dropbox (NASDAQ:DBX) Target Price to $25.00

Dropbox (NASDAQ:DBX) had its price target decreased by Citigroup from $26.00 to $25.00 in a research report report published on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Dropbox Price Performance

Shares of DBX opened at $22.47 on Wednesday. Dropbox has a one year low of $20.68 and a one year high of $33.43. The company has a 50-day moving average of $22.69 and a two-hundred day moving average of $25.81. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.56 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 9th. The company reported $0.41 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $628.81 million. Analysts anticipate that Dropbox will post 1.26 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.11, for a total transaction of $69,330.00. Following the completion of the sale, the chief financial officer now directly owns 594,995 shares in the company, valued at $13,750,334.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Dropbox news, insider Bart Volkmer sold 6,682 shares of Dropbox stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.12, for a total value of $154,487.84. Following the completion of the sale, the insider now directly owns 372,332 shares in the company, valued at $8,608,315.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.11, for a total transaction of $69,330.00. Following the completion of the sale, the chief financial officer now owns 594,995 shares of the company’s stock, valued at $13,750,334.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,218 shares of company stock worth $4,534,619. 26.40% of the stock is owned by company insiders.

Institutional Trading of Dropbox

A number of institutional investors have recently added to or reduced their stakes in DBX. GAMMA Investing LLC bought a new position in shares of Dropbox in the fourth quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new position in shares of Dropbox in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC bought a new position in shares of Dropbox in the first quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC increased its position in Dropbox by 29,175.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after acquiring an additional 1,167 shares during the period. Finally, Principal Securities Inc. bought a new position in Dropbox during the fourth quarter worth $34,000. 94.84% of the stock is currently 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.