Dropbox, Inc. (NASDAQ:DBX) Receives $27.50 Average Price Target from Analysts

Dropbox, Inc. (NASDAQ:DBX) has received a consensus rating of “Reduce” from the seven analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $27.50.

Separately, Jefferies Financial Group upped their target price on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th.

Dropbox Stock Up 0.1 %

NASDAQ:DBX opened at $32.15 on Friday. Dropbox has a 52 week low of $20.68 and a 52 week high of $33.43. The stock’s fifty day moving average is $30.04 and its two-hundred day moving average is $26.71. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The company had revenue of $638.80 million during the quarter, compared to analysts’ expectations of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same period last year, the firm earned $0.35 earnings per share. On average, sell-side analysts expect that Dropbox will post 1.49 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew Houston sold 132,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $28.12, for a total value of $3,711,840.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $232,458,647.92. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.17, for a total transaction of $67,925.00. Following the sale, the chief financial officer now owns 436,264 shares of the company’s stock, valued at $11,853,292.88. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 900,068 shares of company stock valued at $26,648,755. 26.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DBX. Capital Performance Advisors LLP acquired a new position in Dropbox in the third quarter worth approximately $28,000. Avion Wealth lifted its stake in shares of Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Dropbox in the third quarter worth $31,000. Quarry LP raised its holdings in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after buying an additional 880 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after buying an additional 1,686 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

About Dropbox

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.