Insider Selling: Dropbox (NASDAQ:DBX) Insider Sells 11,430 Shares of Stock

Key Points

• William Yoon, an insider at Dropbox, sold 11,430 shares of stock for a total of approximately $344,728.80, decreasing their ownership by 4.86%.
• Dropbox's stock is currently trading at $30.71, with a market capitalization of $8.29 billion and a 12-month trading range between $23.33 and $33.33.
• Analysts have downgraded Dropbox’s rating, with UBS lowering its price target from $31.00 to $29.00 and other firms rating it as a "Hold".

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) insider William Yoon sold 11,430 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $30.16, for a total transaction of $344,728.80. Following the sale, the insider directly owned 223,662 shares in the company, valued at approximately $6,745,645.92. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Dropbox Stock Performance

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

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

Analyst Ratings Changes

DBX has been the topic of several analyst reports. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. UBS Group decreased their price target on Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $30.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its position 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 worth $228,202,000 after purchasing an additional 157,148 shares during the last quarter. LSV Asset Management increased its position in shares of Dropbox by 10.2% in the second quarter. LSV Asset Management now owns 8,408,502 shares of the company's stock worth $240,483,000 after purchasing an additional 774,986 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Dropbox by 10.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company's stock worth $190,538,000 after purchasing an additional 605,258 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Dropbox by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company's stock worth $78,802,000 after purchasing an additional 36,268 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Dropbox by 38.1% in 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 purchasing an additional 684,882 shares during 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.

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