Dropbox, Inc. (NASDAQ:DBX) Insider Sells $154,487.84 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 6,682 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.12, for a total value of $154,487.84. Following the sale, the insider now directly owns 372,332 shares of the company’s stock, valued at $8,608,315.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, March 15th, Bart Volkmer sold 7,039 shares of Dropbox stock. The shares were sold at an average price of $24.02, for a total value of $169,076.78.

Dropbox Price Performance

NASDAQ:DBX opened at $22.76 on Friday. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The stock’s fifty day moving average price is $24.93 and its two-hundred day moving average price is $27.49. The company has a market cap of $7.83 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.58 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The company had revenue of $635.00 million for the quarter, compared to the consensus estimate of $630.77 million. On average, analysts expect that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dropbox

Large investors have recently modified their holdings of the company. State of Michigan Retirement System boosted its stake in Dropbox by 2.3% during the first quarter. State of Michigan Retirement System now owns 62,900 shares of the company’s stock valued at $1,528,000 after buying an additional 1,400 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Dropbox by 936.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 312,295 shares of the company’s stock worth $7,589,000 after buying an additional 282,173 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Dropbox during the 1st quarter valued at $28,000. West Coast Financial LLC grew its position in Dropbox by 0.6% in the first quarter. West Coast Financial LLC now owns 232,989 shares of the company’s stock worth $5,662,000 after acquiring an additional 1,439 shares in the last quarter. Finally, Cooper Financial Group increased its stake in Dropbox by 3.1% in the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after acquiring an additional 462 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on DBX. Citigroup dropped their price target on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $30.00 in a research report on Friday, February 16th. KeyCorp raised their price target on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, The Goldman Sachs Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $26.00 to $24.00 in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.78.

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.