Analysts Set Dropbox, Inc. (NASDAQ:DBX) Price Target at $28.67

by · The Cerbat Gem

Shares of Dropbox, Inc. (NASDAQ:DBX – Get Free Report) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $28.67.

A number of equities analysts recently issued reports on DBX shares. UBS Group decreased their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup decreased their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th.

View Our Latest Research Report on Dropbox

Dropbox Price Performance

Shares of NASDAQ DBX opened at $25.48 on Friday. The firm has a market capitalization of $8.41 billion, a PE ratio of 16.87, a P/E/G ratio of 1.55 and a beta of 0.61. Dropbox has a 1-year low of $20.68 and a 1-year high of $33.43. The business’s fifty day moving average price is $23.97 and its two-hundred day moving average price is $23.31.

Dropbox (NASDAQ:DBX – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $634.50 million for the quarter, compared to analysts’ expectations of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. Equities research analysts expect that Dropbox will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Bart Volkmer sold 7,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.76, for a total transaction of $159,320.00. Following the completion of the sale, the insider now directly owns 333,934 shares of the company’s stock, valued at $7,600,337.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bart Volkmer sold 7,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.76, for a total transaction of $159,320.00. Following the completion of the sale, the insider now directly owns 333,934 shares of the company’s stock, valued at $7,600,337.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 464,952 shares of company stock worth $11,642,212. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Dropbox

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after buying an additional 2,881,981 shares during the period. Dimensional Fund Advisors LP boosted its position in Dropbox by 63.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock worth $56,994,000 after acquiring an additional 986,942 shares during the period. AQR Capital Management LLC grew its stake in Dropbox by 39.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after acquiring an additional 859,233 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Dropbox by 68.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock valued at $47,397,000 after purchasing an additional 790,191 shares during the period. Finally, Distillate Capital Partners LLC purchased a new stake in shares of Dropbox in the second quarter worth approximately $14,291,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Company Profile

(Get Free Report

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.

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