Brokerages Set Dropbox, Inc. (NASDAQ:DBX) Target Price at $28.67

Dropbox, Inc. (NASDAQ:DBX) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $28.67.

Separately, UBS Group lowered their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Insider Activity

In related news, CEO Andrew Houston sold 351,306 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $207,658,649.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the completion of the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Houston sold 351,306 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $207,658,649.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 459,952 shares of company stock valued at $11,544,337. 26.40% of the stock is owned by company insiders.

Institutional Trading of Dropbox

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Dropbox by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after purchasing an additional 105,250 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Dropbox during the 1st quarter worth about $4,900,000. Lakewood Asset Management LLC acquired a new stake in Dropbox in the 2nd quarter valued at about $797,000. Janus Henderson Group PLC increased its position in Dropbox by 16.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after acquiring an additional 228,316 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Dropbox by 32.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,260 shares of the company’s stock worth $3,749,000 after acquiring an additional 38,131 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Price Performance

Shares of Dropbox stock opened at $25.85 on Tuesday. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.61 and a beta of 0.61. The stock has a 50-day simple moving average of $25.05 and a 200-day simple moving average of $23.57. Dropbox has a 52-week low of $20.68 and a 52-week high of $33.43.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 earnings per share. As a group, equities research analysts predict that Dropbox will post 1.31 earnings per share for the current year.

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.