Dropbox Inc (NASDAQ:DBX) Insider Sells $26,530.00 in Stock

Dropbox Inc (NASDAQ:DBX) insider Timothy Regan sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $26.53, for a total transaction of $26,530.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

DBX opened at $22.85 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.12. Dropbox Inc has a 52-week low of $22.15 and a 52-week high of $43.50.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $339.20 million for the quarter, compared to the consensus estimate of $330.90 million. During the same quarter in the prior year, the company posted $0.06 EPS. Dropbox’s revenue was up 27.2% on a year-over-year basis. Equities research analysts forecast that Dropbox Inc will post 0.31 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of Dropbox during the 1st quarter valued at about $24,775,000. LPL Financial LLC purchased a new stake in shares of Dropbox during the 1st quarter valued at about $886,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Dropbox by 41.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,914 shares of the company’s stock valued at $581,000 after purchasing an additional 5,271 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Dropbox during the 1st quarter valued at about $2,031,000. Finally, Federated Investors Inc. PA increased its position in shares of Dropbox by 24.7% during the 2nd quarter. Federated Investors Inc. PA now owns 1,618,714 shares of the company’s stock valued at $52,479,000 after purchasing an additional 320,380 shares during the last quarter. 13.82% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Dropbox to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Nomura upgraded shares of Dropbox from a “reduce” rating to a “neutral” rating and upped their price target for the stock from $21.00 to $25.00 in a research note on Tuesday, October 2nd. Monness Crespi & Hardt assumed coverage on shares of Dropbox in a research note on Monday, August 27th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada upgraded shares of Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research note on Friday, August 10th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $34.57.

About Dropbox

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

Featured Article: Dividend Aristocrat Index

Insider Buying and Selling by Quarter for Dropbox (NASDAQ:DBX)

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply