William T. Yoon Sells 11,430 Shares of Dropbox (NASDAQ:DBX) 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 T. Yoon sold 11,430 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $30.16, for a total value of $344,728.80. Following the transaction, the insider directly owned 223,662 shares of the company's stock, valued at approximately $6,745,645.92. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dropbox Price Performance

DBX stock traded up $0.96 on Monday, reaching $31.87. 3,306,444 shares of the company traded hands, compared to its average volume of 2,996,801. Dropbox, Inc. has a one year low of $24.25 and a one year high of $33.33. The company has a market cap of $8.60 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 4.09 and a beta of 0.69. The firm has a fifty day simple moving average of $28.14 and a 200-day simple moving average of $27.89.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The company had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. During the same quarter last year, the company earned $0.60 EPS. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. 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 lowered Dropbox from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $30.33.

Hedge Funds Weigh In On Dropbox

Institutional investors and hedge funds have recently modified their holdings of the company. Neo Ivy Capital Management purchased a new position in shares of Dropbox in the 2nd quarter worth $30,000. Elequin Capital LP boosted its stake in shares of Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock worth $30,000 after buying an additional 469 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after buying an additional 558 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Dropbox by 250.3% in the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after buying an additional 991 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Dropbox in the 2nd quarter worth $41,000. 94.84% of the stock is currently owned by hedge funds and other 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.