Dropbox (NASDAQ:DBX) CTO Ali Dasdan Sells 12,812 Shares

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 Dropbox stock in a transaction 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 sale, the chief technology officer owned 551,060 shares in the company, valued at $16,531,800. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 shares were sold at an average price of $27.82, for a total value of $198,801.72.

Dropbox Price Performance

Shares of DBX traded up $0.96 during mid-day trading on Monday, hitting $31.87. The stock had a trading volume of 3,306,444 shares, compared to its average volume of 2,996,801. The firm has a market cap of $8.60 billion, a P/E ratio of 16.35, a PEG ratio of 4.09 and a beta of 0.69. The business has a fifty day moving average price of $28.14 and a 200-day moving average price of $27.89. Dropbox, Inc. has a 52 week low of $24.25 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) 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 analyst estimates of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The business's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dropbox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its position in Dropbox by 198.8% during the second quarter. Osaic Holdings Inc. now owns 36,040 shares of the company's stock worth $1,029,000 after buying an additional 23,978 shares in the last quarter. Centaurus Financial Inc. grew its position in Dropbox by 3.0% during the second quarter. Centaurus Financial Inc. now owns 38,168 shares of the company's stock worth $1,092,000 after buying an additional 1,114 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in Dropbox by 37.3% during the second quarter. Orion Porfolio Solutions LLC now owns 48,912 shares of the company's stock worth $1,399,000 after buying an additional 13,294 shares in the last quarter. Marex Group plc purchased a new position in Dropbox during the second quarter worth about $297,000. Finally, Advisory Services Network LLC grew its position in Dropbox by 38.0% during the second 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. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on DBX shares. UBS Group lowered their target price on Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.