Dropbox Inc (DBX) CFO Sells $296,589.60 in Stock

Dropbox Inc (NASDAQ:DBX) CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $21.60, for a total transaction of $296,589.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ajay Vashee also recently made the following trade(s):

  • On Thursday, January 24th, Ajay Vashee sold 13,731 shares of Dropbox stock. The stock was sold at an average price of $23.32, for a total transaction of $320,206.92.
  • On Friday, December 28th, Ajay Vashee sold 13,731 shares of Dropbox stock. The stock was sold at an average price of $21.00, for a total transaction of $288,351.00.

DBX traded up $0.10 during midday trading on Friday, reaching $21.25. The company had a trading volume of 2,141,169 shares, compared to its average volume of 2,263,467. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.13. The stock has a market cap of $8.74 billion and a price-to-earnings ratio of -16.22. Dropbox Inc has a 12-month low of $18.50 and a 12-month high of $43.50.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 21st. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. The firm had revenue of $375.90 million for the quarter, compared to analysts’ expectations of $369.64 million. Dropbox had a negative net margin of 34.84% and a negative return on equity of 77.19%. As a group, sell-side analysts anticipate that Dropbox Inc will post -0.14 earnings per share for the current year.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Dropbox from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Friday. Bank of America raised shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Friday, February 22nd. Jefferies Financial Group reduced their price objective on shares of Dropbox to $32.00 in a research report on Friday, February 22nd. Finally, ValuEngine downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Dropbox presently has a consensus rating of “Buy” and a consensus price target of $31.75.

Hedge funds have recently made changes to their positions in the stock. Marathon Trading Investment Management LLC lifted its stake in Dropbox by 6.4% in the 4th quarter. Marathon Trading Investment Management LLC now owns 12,020 shares of the company’s stock worth $246,000 after purchasing an additional 720 shares in the last quarter. Private Advisor Group LLC lifted its stake in Dropbox by 11.3% in the 4th quarter. Private Advisor Group LLC now owns 12,214 shares of the company’s stock worth $250,000 after purchasing an additional 1,240 shares in the last quarter. Advisory Services Network LLC lifted its stake in Dropbox by 272.7% in the 4th quarter. Advisory Services Network LLC now owns 2,050 shares of the company’s stock worth $42,000 after purchasing an additional 1,500 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Dropbox in the 4th quarter worth approximately $33,000. Finally, Pearl River Capital LLC purchased a new stake in Dropbox in the 4th quarter worth approximately $35,000. Institutional investors own 31.97% of the company’s stock.

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About Dropbox

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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