Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock Sells 7,000 Shares

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) Director Karen Peacock sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the completion of the transaction, the director now directly owns 25,295 shares in the company, valued at approximately $721,666.35. This trade represents a 21.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Dropbox Stock Performance

Dropbox stock traded up $0.07 during mid-day trading on Friday, reaching $28.74. 3,236,382 shares of the company were exchanged, compared to its average volume of 3,581,373. The business has a fifty day moving average of $27.92 and a 200 day moving average of $28.76. The firm has a market cap of $8.09 billion, a P/E ratio of 20.38, a PEG ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. Dropbox's revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. Sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Trading of Dropbox

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. lifted its holdings in shares of Dropbox by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 126,321 shares of the company's stock valued at $3,794,000 after purchasing an additional 333 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after purchasing an additional 365 shares during the last quarter. Heron Bay Capital Management lifted its holdings in shares of Dropbox by 2.3% during the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock valued at $504,000 after purchasing an additional 378 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Dropbox by 5.6% during the 1st quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock valued at $198,000 after purchasing an additional 395 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Dropbox by 5.1% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock valued at $256,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DBX. UBS Group increased their price objective on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Citigroup increased their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th.

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.