Dropbox, Inc. (NASDAQ:DBX) Given Consensus Rating of "Hold" by Analysts

Shares of Dropbox, Inc. (NASDAQ:DBX - Get Free Report) have been given a consensus rating of "Hold" by the ten brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $29.78.

DBX has been the topic of several analyst reports. JMP Securities lowered Dropbox from an "outperform" rating to a "market perform" rating in a report on Friday, February 16th. Citigroup dropped their price objective on Dropbox from $31.00 to $27.00 and set a "neutral" rating on the stock in a report on Friday, March 22nd. KeyCorp raised their price objective on Dropbox from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, January 19th. UBS Group began coverage on Dropbox in a report on Friday, December 15th. They issued a "buy" rating and a $36.00 price objective on the stock. Finally, Bank of America lowered Dropbox from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Friday, February 16th.

Insider Transactions at Dropbox

In other news, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total value of $3,913,040.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at $197,242,650.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $24.02, for a total transaction of $72,060.00. Following the transaction, the chief financial officer now owns 403,720 shares in the company, valued at $9,697,354.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total value of $3,913,040.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The disclosure for this sale can be found here. Insiders have sold 180,039 shares of company stock valued at $4,324,757 over the last ninety days. Insiders own 25.78% of the company's stock.

Hedge Funds Weigh In On Dropbox

A number of institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in Dropbox by 5.6% in the third quarter. Nordea Investment Management AB now owns 2,146,895 shares of the company's stock valued at $59,050,000 after purchasing an additional 113,947 shares during the period. Wedge Capital Management L L P NC raised its position in Dropbox by 1,287.7% in the third quarter. Wedge Capital Management L L P NC now owns 2,725,139 shares of the company's stock valued at $74,206,000 after purchasing an additional 2,528,754 shares during the period. Activest Wealth Management purchased a new stake in Dropbox in the third quarter valued at $98,000. Jacobs Levy Equity Management Inc. raised its position in Dropbox by 5.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company's stock valued at $120,327,000 after purchasing an additional 227,633 shares during the period. Finally, Pzena Investment Management LLC purchased a new stake in Dropbox in the third quarter valued at $463,000. Hedge funds and other institutional investors own 94.84% of the company's stock.

Dropbox Stock Performance

Dropbox stock traded up $0.01 during midday trading on Monday, hitting $23.28. 2,500,014 shares of the company were exchanged, compared to its average volume of 4,086,488. The firm has a market capitalization of $8.01 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 2.62 and a beta of 0.71. Dropbox has a fifty-two week low of $19.55 and a fifty-two week high of $33.43. The business has a fifty day simple moving average of $26.23 and a two-hundred day simple moving average of $27.69.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. As a group, equities analysts expect that Dropbox will post 1.14 earnings per share for the current year.

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.