Insider Selling: Dropbox, Inc. (NASDAQ:DBX) Insider Sells $99,019.50 in Stock

Dropbox, Inc. (NASDAQ:DBX) insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at $8,141,165. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dropbox Stock Performance

Shares of DBX opened at $26.32 on Thursday. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The firm’s fifty day simple moving average is $30.34 and its 200-day simple moving average is $27.81. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. On average, analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after acquiring an additional 424 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Dropbox during the 3rd quarter worth $28,000. Avion Wealth raised its stake in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. True Wealth Design LLC raised its stake in Dropbox by 191.0% during the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock worth $31,000 after acquiring an additional 680 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Dropbox during the 4th quarter worth $40,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price objective on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

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.