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 Dropbox stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.10, for a total transaction of $283,753.80. Following the completion of the sale, the insider now directly owns 492,856 shares in the company, valued at $13,849,253.60. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Dropbox Price Performance

NASDAQ DBX traded up $0.30 during mid-day trading on Tuesday, hitting $28.95. The stock had a trading volume of 2,994,849 shares, compared to its average volume of 3,430,322. The firm's 50 day moving average is $28.50 and its 200 day moving average is $28.88. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 16.19 and a beta of 0.66. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The business had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The company's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. As a group, equities research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Institutional Trading of Dropbox

A number of hedge funds have recently bought and sold shares of DBX. EverSource Wealth Advisors LLC boosted its holdings in shares of Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after purchasing an additional 424 shares during the last quarter. True Wealth Design LLC boosted its stake in Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock worth $31,000 after buying an additional 680 shares during the last quarter. Elequin Capital LP grew 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 in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Dropbox in the 4th quarter valued at $40,000. Finally, Brooklyn Investment Group increased its stake in shares of Dropbox by 250.3% in the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after acquiring an additional 991 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DBX. 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 report on Friday, May 9th. Citigroup raised their price target 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.

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