Dropbox (NASDAQ:DBX) Insider Sells $275,675.40 in Stock

Key Points

• Dropbox insider Ashraf Alkarmi sold 10,098 shares at an average price of $27.30, totaling approximately $275,675.40, resulting in a 2.11% decrease in ownership.
• Following the sale, Alkarmi retains 469,333 shares in Dropbox, valued around $12.8 million.
• Dropbox's stock has seen a slight increase of 1.4%, trading at $28.29, with analysts setting an average target price of $30.33.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) insider Ashraf Alkarmi sold 10,098 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $27.30, for a total transaction of $275,675.40. Following the completion of the transaction, the insider directly owned 469,333 shares in the company, valued at approximately $12,812,790.90. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ashraf Alkarmi also recently made the following trade(s):

• On Friday, June 13th, Ashraf Alkarmi sold 10,098 shares of Dropbox stock. The shares were sold at an average price of $28.10, for a total transaction of $283,753.80.

Dropbox Stock Up 1.8%

DBX stock traded up $0.50 during midday trading on Friday, reaching $28.82. The company's stock had a trading volume of 2,372,209 shares, compared to its average volume of 3,551,584. Dropbox, Inc. has a 52 week low of $22.72 and a 52 week high of $33.33. The stock has a market cap of $7.78 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 3.81 and a beta of 0.64. The business's 50-day simple moving average is $27.68 and its 200-day simple moving average is $27.94.

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

Institutional Investors Weigh In On Dropbox

Large investors have recently made changes to their positions in the stock. Elequin Capital LP increased its position in shares of Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock worth $30,000 after acquiring an additional 469 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Dropbox during the second quarter worth $30,000. True Wealth Design LLC increased its position in shares of 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 acquiring an additional 680 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after acquiring an additional 558 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after acquiring an additional 991 shares in the last quarter. Institutional investors own 94.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DBX. Citigroup increased their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. UBS Group cut their target price on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.33.

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.