Dropbox (NASDAQ:DBX) Releases Earnings Results, Beats Estimates By $0.01 EPS

Dropbox (NASDAQ:DBXGet Rating) announced its earnings results on Thursday. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01, Briefing.com reports. The firm had revenue of $572.70 million for the quarter, compared to the consensus estimate of $571.27 million. Dropbox had a negative return on equity of 146.35% and a net margin of 16.66%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS.

Dropbox Trading Down 1.8 %

Shares of NASDAQ:DBX traded down $0.44 during mid-day trading on Friday, reaching $23.55. The company had a trading volume of 3,416,075 shares, compared to its average volume of 3,504,431. The company’s 50-day moving average price is $22.06 and its 200-day moving average price is $22.35. Dropbox has a one year low of $19.07 and a one year high of $33.00. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 25.05 and a beta of 0.84.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered their price target on shares of Dropbox from $35.00 to $30.00 in a report on Monday, May 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Bart Volkmer sold 11,270 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $20.36, for a total transaction of $229,457.20. Following the sale, the insider now owns 353,143 shares of the company’s stock, valued at approximately $7,189,991.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dropbox news, President Timothy H. Young sold 15,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $22.68, for a total transaction of $340,200.00. Following the sale, the president now owns 1,617,257 shares of the company’s stock, valued at approximately $36,679,388.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bart Volkmer sold 11,270 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $20.36, for a total transaction of $229,457.20. Following the sale, the insider now directly owns 353,143 shares in the company, valued at approximately $7,189,991.48. The disclosure for this sale can be found here. Insiders have sold 96,086 shares of company stock valued at $2,055,883 in the last 90 days. 25.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DBX. Baupost Group LLC MA increased its holdings in shares of Dropbox by 30.6% in the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock worth $245,777,000 after purchasing an additional 2,476,021 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Dropbox by 200.6% in the first quarter. Mackenzie Financial Corp now owns 209,760 shares of the company’s stock worth $4,877,000 after purchasing an additional 139,990 shares during the period. Charles Schwab Investment Management Inc. grew its position in Dropbox by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,451,608 shares of the company’s stock worth $57,000,000 after acquiring an additional 115,502 shares in the last quarter. Eaton Vance Management grew its position in Dropbox by 3.2% in the first quarter. Eaton Vance Management now owns 3,670,636 shares of the company’s stock worth $85,342,000 after acquiring an additional 113,180 shares in the last quarter. Finally, Blair William & Co. IL grew its position in Dropbox by 233.0% in the first quarter. Blair William & Co. IL now owns 102,489 shares of the company’s stock worth $2,383,000 after acquiring an additional 71,708 shares in the last quarter. Institutional investors own 61.40% of the company’s stock.

Dropbox Company Profile

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Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers the following products: Dropbox Basic, Dropbox Plus, Dropbox Professional, and Dropbox Business. The Dropbox Basic is the simple, powerful home for photos, videos, documents, and other files.

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Earnings History for Dropbox (NASDAQ:DBX)

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