Dropbox, Inc. (NASDAQ:DBX) Insider Bart Volkmer Sells 10,000 Shares

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $28.65, for a total value of $286,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bart Volkmer also recently made the following trade(s):

  • On Monday, September 13th, Bart Volkmer sold 10,000 shares of Dropbox stock. The stock was sold at an average price of $31.23, for a total value of $312,300.00.
  • On Thursday, August 12th, Bart Volkmer sold 10,000 shares of Dropbox stock. The stock was sold at an average price of $32.24, for a total value of $322,400.00.

NASDAQ DBX traded down $0.06 during mid-day trading on Wednesday, reaching $28.90. 2,191,599 shares of the company’s stock traded hands, compared to its average volume of 5,699,233. Dropbox, Inc. has a 1-year low of $17.66 and a 1-year high of $33.00. The company has a fifty day simple moving average of $30.75 and a 200-day simple moving average of $29.12. The company has a market cap of $11.52 billion, a price-to-earnings ratio of -68.81 and a beta of 0.92.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.25. Dropbox had a positive return on equity of 108.39% and a negative net margin of 8.73%. The firm had revenue of $530.60 million during the quarter, compared to analyst estimates of $524.00 million. Equities analysts expect that Dropbox, Inc. will post 0.77 earnings per share for the current year.

A number of research firms have recently commented on DBX. TheStreet upgraded Dropbox from a “d+” rating to a “c-” rating in a report on Monday, August 2nd. Zacks Investment Research downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Wednesday, October 6th. Jefferies Financial Group raised their target price on Dropbox from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, August 6th. Royal Bank of Canada raised their target price on Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, August 6th. Finally, JMP Securities raised their target price on Dropbox from $37.00 to $39.00 and gave the company a “market outperform” rating in a report on Friday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.80.

A number of hedge funds and other institutional investors have recently modified their holdings of DBX. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Dropbox by 96,421.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,254,400 shares of the company’s stock worth $273,382,000 after acquiring an additional 10,243,776 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Dropbox by 27,777.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,050,010 shares of the company’s stock worth $107,973,000 after acquiring an additional 4,035,482 shares in the last quarter. Bank of Montreal Can grew its position in shares of Dropbox by 890.9% in the 2nd quarter. Bank of Montreal Can now owns 3,754,522 shares of the company’s stock worth $114,475,000 after acquiring an additional 3,375,611 shares in the last quarter. Elliott Investment Management L.P. acquired a new position in shares of Dropbox in the 2nd quarter worth approximately $90,930,000. Finally, Toronto Dominion Bank grew its position in shares of Dropbox by 334.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,347,309 shares of the company’s stock worth $71,293,000 after acquiring an additional 1,807,518 shares in the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.

About Dropbox

Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers following products: Dropbox Basic, Plus, Professional and Business. The Dropbox Basic is the simple, powerful home for photos, videos, docs, and other files. Its users also get access to new product Dropbox Paper, a collaborative workspace that helps teams create and share early ideas, and work with any type of content, in one centralized place.

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