Insider Selling: Dropbox, Inc. (NASDAQ:DBX) Insider Sells 3,765 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction 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 owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $26.32 on Thursday. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.70 and a beta of 0.77. The firm’s 50-day simple moving average is $30.34 and its 200-day simple moving average is $27.81. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

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

Analysts Set New Price Targets

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

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth boosted its holdings in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after buying an additional 984 shares in the last quarter. True Wealth Design LLC boosted its holdings in Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock worth $31,000 after buying an additional 680 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Dropbox during the third quarter worth about $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Dropbox during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

About Dropbox

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.