Dropbox (NASDAQ:DBX) Director Sells $52,569.00 in Stock

Key Points

• Abhay Parasnis, a director at Dropbox, sold 1,782 shares of the company’s stock for a total of $52,569, reducing his position by 4.40% as of September 5th.
• Dropbox's shares recently increased to $31.20, with a market cap of approximately $8.42 billion, reflecting a growth compared to the stock's 52-week low of $23.25.
• The company reported $0.71 EPS for the last quarter, exceeding analysts' expectations, but quarterly revenue declined 1.4% year-over-year.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) Director Abhay Parasnis sold 1,782 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $29.50, for a total value of $52,569.00. Following the sale, the director owned 38,740 shares in the company, valued at approximately $1,142,830. The trade was a 4.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Abhay Parasnis also recently made the following trade(s):

• On Wednesday, August 20th, Abhay Parasnis sold 3,564 shares of Dropbox stock. The shares were sold at an average price of $28.26, for a total value of $100,718.64.

Dropbox Stock Performance

Shares of DBX stock traded up $0.86 during trading hours on Tuesday, hitting $31.20. 4,097,635 shares of the company were exchanged, compared to its average volume of 3,721,958. The company has a 50 day simple moving average of $27.80 and a two-hundred day simple moving average of $27.72. The firm has a market cap of $8.42 billion, a P/E ratio of 19.02, a P/E/G ratio of 3.95 and a beta of 0.69. Dropbox, Inc. has a fifty-two week low of $23.25 and a fifty-two week high of $33.33.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group decreased their target price on Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Wall Street Zen downgraded Dropbox from a "buy" rating to a "hold" rating in a report on Friday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Dropbox has a consensus rating of "Hold" and an average price target of $30.33.

Hedge Funds Weigh In On Dropbox

Several large investors have recently added to or reduced their stakes in DBX. Captrust Financial Advisors raised its stake in shares of Dropbox by 7.1% in the fourth quarter. Captrust Financial Advisors now owns 80,124 shares of the company's stock worth $2,407,000 after purchasing an additional 5,300 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Dropbox in the 4th quarter valued at $9,189,000. Focus Partners Wealth purchased a new stake in Dropbox in the 4th quarter valued at $219,000. Gotham Asset Management LLC lifted its stake in Dropbox by 5.1% during the 4th quarter. Gotham Asset Management LLC now owns 265,927 shares of the company's stock valued at $7,988,000 after acquiring an additional 12,814 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Dropbox by 3.0% during the 4th quarter. Janus Henderson Group PLC now owns 267,014 shares of the company's stock worth $8,022,000 after acquiring an additional 7,662 shares during the last quarter. Institutional investors own 94.84% of the company's stock.

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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