Dropbox, Inc. (NASDAQ:DBX) Insider Sells $159,320.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 7,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.76, for a total transaction of $159,320.00. Following the sale, the insider now owns 333,934 shares in the company, valued at approximately $7,600,337.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dropbox Trading Down 0.5 %

Shares of NASDAQ:DBX opened at $23.12 on Friday. The firm’s 50 day moving average is $22.41 and its two-hundred day moving average is $25.14. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The firm has a market capitalization of $7.63 billion, a P/E ratio of 15.31, a PEG ratio of 1.62 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.41 EPS 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 business had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. Analysts predict that Dropbox, Inc. will post 1.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped 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. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.56.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Donald L. Hagan LLC increased its stake in shares of Dropbox by 27.0% during the second quarter. Donald L. Hagan LLC now owns 17,209 shares of the company’s stock valued at $387,000 after acquiring an additional 3,660 shares during the period. Raymond James & Associates increased its stake in shares of Dropbox by 7.5% during the second quarter. Raymond James & Associates now owns 88,448 shares of the company’s stock valued at $1,987,000 after acquiring an additional 6,165 shares during the period. Gladius Capital Management LP boosted its holdings in Dropbox by 34.5% during the second quarter. Gladius Capital Management LP now owns 44,746 shares of the company’s stock worth $1,005,000 after buying an additional 11,489 shares in the last quarter. Lakewood Asset Management LLC bought a new stake in Dropbox during the second quarter worth approximately $797,000. Finally, Sawgrass Asset Management LLC boosted its holdings in Dropbox by 38.4% during the second quarter. Sawgrass Asset Management LLC now owns 524,701 shares of the company’s stock worth $11,790,000 after buying an additional 145,504 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.