Insider Selling: Dropbox, Inc. (NASDAQ:DBX) Insider Sells $236,804.32 in Stock

Dropbox, Inc. (NASDAQ:DBXGet Rating) insider Bart Volkmer sold 10,534 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $22.48, for a total transaction of $236,804.32. Following the completion of the transaction, the insider now owns 286,066 shares of the company’s stock, valued at approximately $6,430,763.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Bart Volkmer also recently made the following trade(s):

  • On Tuesday, October 11th, Bart Volkmer sold 11,000 shares of Dropbox stock. The shares were sold at an average price of $20.12, for a total transaction of $221,320.00.
  • On Monday, September 12th, Bart Volkmer sold 11,000 shares of Dropbox stock. The shares were sold at an average price of $23.03, for a total transaction of $253,330.00.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $22.28 on Friday. The company has a market cap of $8.08 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. Dropbox, Inc. has a 12 month low of $19.07 and a 12 month high of $25.83. The company has a 50-day simple moving average of $21.38 and a 200-day simple moving average of $21.77.

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in shares of Dropbox by 3.0% during the second quarter. State of Alaska Department of Revenue now owns 17,565 shares of the company’s stock worth $368,000 after buying an additional 507 shares in the last quarter. Dupont Capital Management Corp boosted its position in shares of Dropbox by 2.7% in the second quarter. Dupont Capital Management Corp now owns 20,887 shares of the company’s stock worth $438,000 after acquiring an additional 553 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of Dropbox by 0.4% in the second quarter. Scotia Capital Inc. now owns 156,972 shares of the company’s stock worth $3,295,000 after acquiring an additional 585 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Dropbox by 4.9% in the third quarter. Daiwa Securities Group Inc. now owns 15,050 shares of the company’s stock worth $312,000 after acquiring an additional 700 shares during the last quarter. Finally, Meridian Investment Counsel Inc. boosted its position in shares of Dropbox by 5.5% in the second quarter. Meridian Investment Counsel Inc. now owns 13,856 shares of the company’s stock worth $291,000 after acquiring an additional 722 shares during the last quarter. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DBX has been the subject of a number of research analyst reports. Jefferies Financial Group cut their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 31st. Bank of America began coverage on shares of Dropbox in a report on Tuesday, September 6th. They set a “buy” rating and a $34.00 target price for the company. Citigroup began coverage on shares of Dropbox in a report on Thursday, September 1st. They set a “neutral” rating and a $24.00 target price for the company. The Goldman Sachs Group dropped their target price on shares of Dropbox from $25.00 to $22.00 and set a “sell” rating for the company in a report on Monday, November 7th. Finally, KeyCorp began coverage on shares of Dropbox in a report on Monday, September 12th. They set an “overweight” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.57.

Dropbox Company Profile

(Get Rating)

Dropbox, Inc provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users.

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Insider Buying and Selling by Quarter for Dropbox (NASDAQ:DBX)

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