Dropbox Inc (NASDAQ:DBX) insider Yamini Rangan sold 4,129 shares of Dropbox stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $23.95, for a total transaction of $98,889.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of DBX stock traded down $0.04 during trading hours on Tuesday, reaching $24.97. 172,773 shares of the stock were exchanged, compared to its average volume of 6,131,011. Dropbox Inc has a 12-month low of $18.50 and a 12-month high of $34.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s 50-day moving average is $23.40. The company has a market cap of $11.72 billion, a price-to-earnings ratio of -19.07 and a beta of 1.40.
Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. Dropbox had a negative net margin of 1.85% and a negative return on equity of 3.50%. The firm had revenue of $385.60 million during the quarter, compared to analysts’ expectations of $381.58 million. During the same period in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities research analysts anticipate that Dropbox Inc will post -0.12 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in DBX. Advisors Asset Management Inc. lifted its holdings in Dropbox by 51.1% during the 4th quarter. Advisors Asset Management Inc. now owns 13,927 shares of the company’s stock valued at $285,000 after buying an additional 4,711 shares in the last quarter. Creative Planning bought a new stake in Dropbox during the 4th quarter valued at about $208,000. State Treasurer State of Michigan bought a new stake in shares of Dropbox in the 4th quarter valued at about $646,000. Victory Capital Management Inc. raised its holdings in shares of Dropbox by 7.9% in the 4th quarter. Victory Capital Management Inc. now owns 2,090,309 shares of the company’s stock valued at $42,705,000 after purchasing an additional 152,263 shares in the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Dropbox in the 4th quarter valued at about $1,271,000. Institutional investors own 28.71% of the company’s stock.
Separately, Zacks Investment Research raised shares of Dropbox from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $31.71.
Dropbox Company Profile
Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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