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 on Monday, August 18th. The shares were sold at an average price of $27.30, for a total value of $275,675.40. Following the transaction, the insider owned 469,333 shares in the company, valued at approximately $12,812,790.90. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

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

Dropbox Stock Up 1.4%

DBX traded up $0.39 during trading hours on Tuesday, hitting $28.29. The stock had a trading volume of 4,018,675 shares, compared to its average volume of 3,454,919. The company's fifty day simple moving average is $27.66 and its 200 day simple moving average is $28.04. Dropbox, Inc. has a 1 year low of $22.72 and a 1 year high of $33.33. The stock has a market cap of $7.63 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.75 and a beta of 0.64.

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

Hedge Funds Weigh In On Dropbox

A number of hedge funds have recently bought and sold shares of the company. Marex Group plc bought a new position in Dropbox in the 2nd quarter worth about $297,000. Advisory Services Network LLC increased its holdings in Dropbox by 38.0% in the 2nd quarter. Advisory Services Network LLC now owns 32,095 shares of the company's stock worth $872,000 after buying an additional 8,845 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after buying an additional 558 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Dropbox in the 2nd quarter worth about $682,000. Finally, Evergreen Capital Management LLC bought a new stake in Dropbox in the 2nd quarter worth about $236,000. Institutional investors own 94.84% of the company's stock.

Analysts Set New Price Targets

DBX has been the subject of a number of analyst reports. Citigroup increased their price objective on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. UBS Group decreased their target price on Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dropbox has an average rating of "Hold" and an average target price of $30.33.

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.

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