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 business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the transaction, the director owned 23,295 shares in the company, valued at $698,850. This represents a 7.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dropbox Stock Performance

Shares of Dropbox stock traded up $0.96 during trading on Monday, reaching $31.87. The company had a trading volume of 3,306,444 shares, compared to its average volume of 2,996,801. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 4.09 and a beta of 0.69. The firm's fifty day moving average is $28.14 and its 200-day moving average is $27.89. Dropbox, Inc. has a fifty-two week low of $24.25 and a fifty-two 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 analysts' consensus estimates of $0.63 by $0.08. The business 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 company'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 EPS. On average, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DBX. Wall Street Zen downgraded shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. UBS Group lowered their price objective on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $30.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of Dropbox by 1.9% in the first quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company's stock valued at $228,202,000 after acquiring an additional 157,148 shares in the last quarter. LSV Asset Management boosted its holdings in Dropbox by 10.2% during the second quarter. LSV Asset Management now owns 8,408,502 shares of the company's stock worth $240,483,000 after buying an additional 774,986 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Dropbox by 10.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company's stock worth $190,538,000 after buying an additional 605,258 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Dropbox by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company's stock worth $78,802,000 after buying an additional 36,268 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Dropbox by 38.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,482,705 shares of the company's stock worth $66,313,000 after buying an additional 684,882 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

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.