Insider Selling: Dropbox, Inc. (NASDAQ:DBX) Insider Sells 6,682 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 6,682 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $23.12, for a total value of $154,487.84. Following the completion of the transaction, the insider now directly owns 372,332 shares in the company, valued at $8,608,315.84. The sale was disclosed in a filing with the SEC, which is available through this link.

Bart Volkmer also recently made the following trade(s):

• On Friday, March 15th, Bart Volkmer sold 7,039 shares of Dropbox stock. The shares were sold at an average price of $24.02, for a total value of $169,076.78.

Dropbox Stock Up 1.0 %

Shares of DBX stock opened at $22.98 on Friday. Dropbox, Inc. has a twelve month low of $19.55 and a twelve month high of $33.43. The company has a market cap of $7.90 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.57 and a beta of 0.71. The business has a fifty day simple moving average of $24.73 and a 200 day simple moving average of $27.45.

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

Hedge Funds Weigh In On Dropbox

Institutional investors and hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its holdings in Dropbox by 65.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after purchasing an additional 869,043 shares in the last quarter. Nordea Investment Management AB increased its holdings in Dropbox by 5.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,146,895 shares of the company’s stock worth $59,050,000 after purchasing an additional 113,947 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Dropbox by 1,287.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,725,139 shares of the company’s stock worth $74,206,000 after purchasing an additional 2,528,754 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Dropbox by 5.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock worth $120,327,000 after purchasing an additional 227,633 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new position in Dropbox in the 3rd quarter worth about $463,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America downgraded Dropbox from a “buy” rating to an “underperform” rating and cut their target price for the company from $34.00 to $28.00 in a research report on Friday, February 16th. The Goldman Sachs Group downgraded Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the company from $26.00 to $24.00 in a research report on Friday, February 16th. JMP Securities downgraded Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. KeyCorp upped their target price on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Finally, Citigroup cut their target price on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.78.

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.