Insider Selling: Dropbox (NASDAQ:DBX) CTO Sells 12,812 Shares of Stock

Key Points

• Dropbox CTO Ali Dasdan sold 12,812 shares of stock on September 8th at an average price of $30.00, resulting in a total sale value of $384,360.
• In recent trading, Dropbox shares reached $30.71, with the company having a market cap of $8.29 billion and a price-to-earnings ratio of 18.73.
• Dropbox reported earnings of $0.71 per share for the last quarter, exceeding analyst estimates and revealing a revenue of $625.70 million, but down 1.4% year-over-year.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CTO Ali Dasdan sold 12,812 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $384,360.00. Following the transaction, the chief technology officer owned 551,060 shares in the company, valued at $16,531,800. This represents a 2.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ali Dasdan also recently made the following trade(s):

• On Monday, August 18th, Ali Dasdan sold 5,666 shares of Dropbox stock. The stock was sold at an average price of $27.30, for a total value of $154,681.80.
• On Thursday, August 14th, Ali Dasdan sold 7,146 shares of Dropbox stock. The stock was sold at an average price of $27.82, for a total value of $198,801.72.

Dropbox Price Performance

DBX stock traded down $0.49 during mid-day trading on Wednesday, reaching $30.71. 3,876,334 shares of the company's stock were exchanged, compared to its average volume of 3,723,299. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 4.01 and a beta of 0.70. The stock's 50 day moving average is $27.87 and its 200 day moving average is $27.74. Dropbox, Inc. has a 12-month low of $23.33 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping 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 negative return on equity of 61.31% and a net margin of 19.17%.Dropbox's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on DBX. UBS Group reduced 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. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Dropbox currently has a consensus rating of "Hold" and an average price target of $30.33.

Hedge Funds Weigh In On Dropbox

Hedge funds have recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in shares of Dropbox during the second quarter valued at approximately $30,000. Elequin Capital LP lifted its position in 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 buying an additional 469 shares in the last quarter. Geneos Wealth Management Inc. grew 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 valued at $36,000 after buying an additional 558 shares in the last quarter. Brooklyn Investment Group grew its holdings in Dropbox by 250.3% in the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after buying an additional 991 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Dropbox in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 94.84% of the company's stock.

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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