Analysts Set Dropbox, Inc. (NASDAQ:DBX) Price Target at $28.86

Shares of Dropbox, Inc. (NASDAQ:DBX) have received an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.86.

Separately, Jefferies Financial Group raised their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.18, for a total transaction of $65,450.00. Following the sale, the chief financial officer now directly owns 466,747 shares in the company, valued at approximately $12,219,436.46. The trade was a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 132,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $232,458,647.92. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 822,069 shares of company stock valued at $24,209,501. 26.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dropbox

Institutional investors and hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. boosted its position in shares of Dropbox by 10.6% in the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after buying an additional 21,190 shares in the last quarter. Aigen Investment Management LP acquired a new position in Dropbox in the 3rd quarter valued at about $482,000. Retirement Systems of Alabama raised its stake in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after purchasing an additional 124,528 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after purchasing an additional 228,685 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Dropbox by 6.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after purchasing an additional 134,503 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Stock Up 0.5 %

Shares of Dropbox stock opened at $29.74 on Monday. Dropbox has a 52-week low of $20.68 and a 52-week high of $33.43. The company has a 50 day moving average of $28.66 and a 200 day moving average of $25.63. The company has a market capitalization of $9.21 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.68 and a beta of 0.61.

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.