Ali Dasdan Sells 7,146 Shares of Dropbox (NASDAQ:DBX) Stock

Key Points

• Dropbox, Inc.'s CTO Ali Dasdan sold 7,146 shares at an average price of $27.82, totaling approximately $198,801, reducing their ownership by 1.20%.
• The company reported $0.71 earnings per share for the last quarter, surpassing analysts' expectations of $0.63, with revenues of $625.70 million.
• Recent analyst reports saw price target adjustments for Dropbox, with updates from UBS Group lowering it to $29.00 and Citigroup raising it to $32.00.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CTO Ali Dasdan sold 7,146 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.82, for a total transaction of $198,801.72. Following the completion of the transaction, the chief technology officer owned 588,793 shares in the company, valued at $16,380,221.26. This trade represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ali Dasdan also recently made the following trade(s):

• On Monday, August 18th, Ali Dasdan sold 5,666 shares of Dropbox stock. The shares were sold at an average price of $27.30, for a total transaction of $154,681.80.

Dropbox Stock Performance

Shares of DBX stock traded up $0.50 on Friday, hitting $28.82. The company's stock had a trading volume of 2,372,209 shares, compared to its average volume of 3,567,613. The stock's 50 day moving average is $27.68 and its 200-day moving average is $27.96. Dropbox, Inc. has a fifty-two week low of $22.72 and a fifty-two week high of $33.33. The company has a market capitalization of $7.78 billion, a PE ratio of 17.57, a PEG ratio of 3.81 and a beta of 0.64.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The business had revenue of $625.70 million for the quarter, compared to the consensus estimate of $618.60 million. During the same period in the prior year, the company posted $0.60 earnings per share. Dropbox's revenue was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

DBX has been the subject of several recent analyst reports. UBS Group cut their price objective on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Citigroup upped their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $30.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DBX. Elequin Capital LP raised its holdings in Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after buying an additional 469 shares during the last quarter. Neo Ivy Capital Management bought a new position in Dropbox in the 2nd quarter valued at approximately $30,000. True Wealth Design LLC raised its holdings in Dropbox by 191.0% in the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock valued at $31,000 after buying an additional 680 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock valued at $36,000 after buying an additional 558 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in Dropbox by 250.3% in the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after buying an additional 991 shares during the last quarter. Institutional investors own 94.84% of the company's stock.

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.