Dropbox, Inc. (NASDAQ:DBX) Receives Consensus Recommendation of “Hold” from Brokerages

Dropbox, Inc. (NASDAQ:DBX) has been assigned an average rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $29.56.

Separately, Citigroup lowered their price target on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th.

Dropbox Price Performance

NASDAQ DBX opened at $22.60 on Wednesday. The business has a fifty day moving average price of $22.66 and a two-hundred day moving average price of $25.69. Dropbox has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The stock has a market capitalization of $7.46 billion, a PE ratio of 14.97, a PEG ratio of 1.56 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 for the quarter, topping the consensus estimate of $0.28 by $0.13. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. The firm had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $628.81 million. As a group, sell-side analysts expect that Dropbox will post 1.26 earnings per share for the current year.

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $23.11, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dropbox news, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction that occurred on Wednesday, May 1st. The shares were 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 owns 8,266,666 shares of the company’s stock, valued at approximately $193,770,651.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.11, for a total transaction of $69,330.00. Following the transaction, the chief financial officer now directly owns 594,995 shares in the company, valued at approximately $13,750,334.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,218 shares of company stock worth $4,534,619. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Dropbox

Several hedge funds have recently modified their holdings of DBX. GAMMA Investing LLC bought a new position in shares of Dropbox during the 4th quarter worth approximately $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Dropbox in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC bought a new stake in shares of Dropbox in the 1st quarter worth approximately $28,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Dropbox by 29,175.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after purchasing an additional 1,167 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of Dropbox in the 4th quarter worth approximately $34,000. 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.