Dropbox, Inc. (NASDAQ:DBX) Given Consensus Rating of “Reduce” by Analysts

Dropbox, Inc. (NASDAQ:DBX) has been given an average recommendation of “Reduce” by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $27.50.

Separately, Jefferies Financial Group lifted their target price on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th.

Dropbox Stock Down 0.8 %

Shares of NASDAQ DBX opened at $32.13 on Friday. The business’s 50 day moving average is $29.87 and its two-hundred day moving average is $26.55. The company has a market cap of $9.95 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.58 and a beta of 0.61. Dropbox has a 12 month low of $20.68 and a 12 month high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The company had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same period last year, the company earned $0.35 earnings per share. Sell-side analysts expect that Dropbox will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, November 15th. The stock was sold at an average price of $27.17, for a total transaction of $67,925.00. Following the completion of the transaction, the chief financial officer now directly owns 436,264 shares of the company’s stock, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 80,499 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 900,068 shares of company stock worth $26,648,755 over the last quarter. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DBX. Capital Performance Advisors LLP acquired a new position in Dropbox in the third quarter worth $28,000. Avion Wealth boosted its position in Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after buying an additional 984 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox in the 3rd quarter valued at $31,000. Quarry LP boosted its holdings in Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,686 shares during the last quarter. Institutional investors 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.