Dropbox, Inc. (NASDAQ:DBX) Insider Ashraf Alkarmi Sells 10,098 Shares

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) insider Ashraf Alkarmi sold 10,098 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.10, for a total transaction of $283,753.80. Following the sale, the insider now directly owns 492,856 shares of the company's stock, valued at approximately $13,849,253.60. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Dropbox Stock Performance

Shares of NASDAQ DBX traded up $0.38 during midday trading on Friday, reaching $28.70. 9,148,377 shares of the company's stock were exchanged, compared to its average volume of 3,447,184. Dropbox, Inc. has a 52-week low of $20.95 and a 52-week high of $33.33. The business's fifty day moving average price is $28.57 and its two-hundred day moving average price is $28.88. The stock has a market capitalization of $8.08 billion, a PE ratio of 18.76 and a beta of 0.66.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The firm 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 79.66% and a net margin of 18.50%. Dropbox's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. Analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently modified their holdings of DBX. Acadian Asset Management LLC lifted its position in shares of Dropbox by 1.9% during the first quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company's stock worth $228,202,000 after purchasing an additional 157,148 shares during the last quarter. LSV Asset Management raised its stake in Dropbox by 18.4% during the first quarter. LSV Asset Management now owns 7,633,516 shares of the company's stock valued at $203,891,000 after buying an additional 1,187,395 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after buying an additional 1,440,887 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Dropbox by 3.0% during the 4th quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company's stock worth $99,842,000 after buying an additional 97,551 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Dropbox by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company's stock worth $78,802,000 after acquiring an additional 36,268 shares in the last quarter. Institutional investors own 94.84% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. UBS Group increased their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup upped their target price on shares of Dropbox from $30.00 to $32.00 and gave the company 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.