Dropbox (NASDAQ:DBX) Given New $30.00 Price Target at Jefferies Financial Group

Dropbox (NASDAQ:DBX) had its price target hoisted by Jefferies Financial Group from $27.00 to $30.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential downside of 0.17% from the stock’s previous close.

Dropbox Stock Performance

NASDAQ DBX traded up $0.05 on Monday, reaching $30.05. The company had a trading volume of 1,815,746 shares, compared to its average volume of 2,353,971. The company’s fifty day moving average is $28.49 and its 200-day moving average is $25.48. Dropbox has a 1-year low of $20.68 and a 1-year high of $33.43. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61.

Insider Transactions at Dropbox

In other Dropbox news, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.18, for a total value of $65,450.00. Following the sale, the chief financial officer now owns 466,747 shares in the company, valued at approximately $12,219,436.46. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 281,829 shares of company stock valued at $8,178,820 in the last ninety days. 26.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dropbox

A number of institutional investors have recently added to or reduced their stakes in DBX. QRG Capital Management Inc. increased its stake in shares of Dropbox by 10.6% during the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after purchasing an additional 21,190 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Dropbox during the 3rd quarter worth approximately $482,000. Retirement Systems of Alabama raised its stake in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after purchasing an additional 228,685 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after purchasing an additional 134,503 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.