Insider Selling: Dropbox (NASDAQ:DBX) Director Sells 2,000 Shares of Stock

Key Points

• Dropbox Director Karen Peacock sold 2,000 shares of stock for a total of $60,000, decreasing her position by 7.91% and leaving her with 23,295 shares valued at approximately $698,850.
• Following negative analyst ratings, including a target price reduction by UBS Group from $31 to $29, the consensus rating for Dropbox stock is currently a "Hold".
• Dropbox reported $0.71 EPS for the latest quarter, exceeding estimates, but experienced a 1.4% decline in revenue compared to the previous year.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) Director Karen Peacock sold 2,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $60,000.00. Following the transaction, the director owned 23,295 shares of the company's stock, valued at $698,850. The trade was a 7.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Dropbox Trading Down 1.6%

Shares of DBX stock traded down $0.49 on Wednesday, hitting $30.71. 3,876,334 shares of the stock were exchanged, compared to its average volume of 3,723,299. The firm has a market capitalization of $8.29 billion, a PE ratio of 18.73, a P/E/G ratio of 4.01 and a beta of 0.70. Dropbox, Inc. has a one year low of $23.33 and a one year high of $33.33. The firm's 50 day moving average is $27.87 and its two-hundred day moving average is $27.74.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $625.70 million during 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%.The firm's revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. On average, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DBX shares. UBS Group reduced 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 note on Friday, September 5th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.33.

Institutional Investors Weigh In On Dropbox

Several hedge funds have recently added to or reduced their stakes in the stock. Elequin Capital LP lifted its holdings in shares of Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after purchasing an additional 469 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Dropbox during the second quarter valued at $30,000. Geneos Wealth Management Inc. lifted its holdings 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 valued at $36,000 after purchasing an additional 558 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after purchasing an additional 991 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Dropbox during the second quarter valued at $41,000. 94.84% of the stock is owned by institutional investors.

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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