Brokerages Set Dropbox, Inc. (NASDAQ:DBX) PT at $29.56

Dropbox, Inc. (NASDAQ:DBX) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $29.56.

Separately, Citigroup cut their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday.

Insider Buying and Selling

In related news, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total value of $1,922,080.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $193,770,651.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Eric Cox sold 8,536 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total transaction of $181,560.72. Following the completion of the sale, the insider now owns 350,471 shares of the company’s stock, valued at $7,454,518.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $193,770,651.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,218 shares of company stock valued at $4,534,619. 26.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dropbox

Large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its holdings in shares of Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock valued at $64,825,000 after purchasing an additional 869,043 shares during the period. AGF Management Ltd. acquired a new position in Dropbox in the fourth quarter valued at about $2,935,000. Charles Schwab Investment Management Inc. lifted its position in Dropbox by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock valued at $88,151,000 after buying an additional 98,568 shares during the last quarter. Seizert Capital Partners LLC lifted its position in Dropbox by 31.7% in the fourth quarter. Seizert Capital Partners LLC now owns 254,469 shares of the company’s stock valued at $7,502,000 after buying an additional 61,292 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Dropbox by 16.4% in the fourth quarter. Franklin Resources Inc. now owns 458,789 shares of the company’s stock valued at $13,525,000 after buying an additional 64,492 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ DBX opened at $22.47 on Wednesday. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.51 and a beta of 0.68. The company’s 50-day simple moving average is $22.69 and its two-hundred day simple moving average is $25.83. Dropbox has a one year low of $20.68 and a one year high of $33.43.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 9th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. The business had revenue of $631.30 million for the quarter, compared to the consensus estimate of $628.81 million. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. Equities analysts expect that Dropbox will post 1.26 earnings per share for the current fiscal 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.