Dropbox (NASDAQ:DBX) Earns "Hold (C+)" Rating from Weiss Ratings

Key Points

• Dropbox received a "Hold (C+)" rating from Weiss Ratings, while UBS Group downgraded it from "Neutral" to "Sell" with a reduced price target of $27.00.
• The company's stock has shown mixed performance, with a 52-week low of $24.42 and a high of $33.33, while the current price is $29.36.
• Dropbox reported a quarterly earnings surprise with $0.71 EPS, exceeding analyst expectations and generating revenue of $625.70 million, although revenue decreased by 1.4% year-over-year.

Dropbox (NASDAQ:DBX - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by stock analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the stock. UBS Group cut shares of Dropbox from a "neutral" rating to a "sell" rating and decreased their price target for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Wall Street Zen raised shares of Dropbox from a "hold" rating to a "buy" rating in a research report on Saturday, October 18th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $29.67.

Dropbox Stock Up 0.0%

Shares of DBX stock opened at $29.36 on Friday. Dropbox has a 52 week low of $24.42 and a 52 week high of $33.33. The stock has a market capitalization of $7.92 billion, a PE ratio of 17.90, a P/E/G ratio of 3.87 and a beta of 0.67. The firm has a 50 day moving average of $29.67 and a two-hundred day moving average of $28.60.

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

Insider Activity

In related news, insider William T. Yoon sold 11,430 shares of Dropbox stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.16, for a total transaction of $344,728.80. Following the sale, the insider directly owned 223,662 shares in the company, valued at $6,745,645.92. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Ali Dasdan sold 12,812 shares of Dropbox stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.00, for a total transaction of $384,360.00. Following the completion of the transaction, the chief technology officer owned 551,060 shares in the company, valued at approximately $16,531,800. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,632 shares of company stock worth $9,248,234 over the last three months. Company insiders own 29.95% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new position in Dropbox in the third quarter valued at $1,598,000. Bayforest Capital Ltd increased its stake in shares of Dropbox by 69.4% during the third quarter. Bayforest Capital Ltd now owns 15,900 shares of the company's stock worth $480,000 after acquiring an additional 6,513 shares during the period. Lakewood Asset Management LLC increased its stake in shares of Dropbox by 1.6% during the third quarter. Lakewood Asset Management LLC now owns 44,447 shares of the company's stock worth $1,343,000 after acquiring an additional 705 shares during the period. KLP Kapitalforvaltning AS increased its stake in shares of Dropbox by 2.9% during the third quarter. KLP Kapitalforvaltning AS now owns 764,100 shares of the company's stock worth $23,083,000 after acquiring an additional 21,800 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Dropbox by 2.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,055,276 shares of the company's stock worth $62,090,000 after acquiring an additional 52,218 shares during the period. 94.84% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.