Dropbox, Inc. (NASDAQ:DBX) CTO Ali Dasdan Sells 7,146 Shares

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 on Thursday, August 14th. The shares were sold at an average price of $27.82, for a total value of $198,801.72. Following the completion of the transaction, the chief technology officer owned 588,793 shares of the company's stock, valued at $16,380,221.26. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Dropbox Stock Up 0.3%

NASDAQ:DBX traded up $0.08 during trading hours on Monday, reaching $27.90. The company had a trading volume of 5,761,735 shares, compared to its average volume of 3,788,245. The stock has a 50-day moving average of $27.70 and a two-hundred day moving average of $28.07. Dropbox, Inc. has a one year low of $22.72 and a one year high of $33.33. The firm has a market capitalization of $7.53 billion, a PE ratio of 17.01, a PEG ratio of 3.74 and a beta of 0.64.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. The business had revenue of $625.70 million during the quarter, compared to analysts' expectations of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DBX shares. UBS Group dropped their price objective on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Citigroup increased their price target 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its position in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after acquiring an additional 558 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Dropbox during the second quarter worth $682,000. Evergreen Capital Management LLC acquired a new stake in shares of Dropbox in the second quarter valued at $236,000. Vident Advisory LLC raised its holdings in shares of Dropbox by 6.3% in the second quarter. Vident Advisory LLC now owns 21,572 shares of the company's stock valued at $617,000 after buying an additional 1,286 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Dropbox during the 2nd quarter worth about $203,000. 94.84% of the stock is owned by institutional investors and hedge funds.

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.

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