Dropbox, Inc. (NASDAQ:DBX) Receives Average Recommendation of “Hold” from Analysts

Dropbox, Inc. (NASDAQ:DBX) has been given an average rating of “Hold” by the ten analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $29.78.

Several analysts recently weighed in on DBX shares. JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. KeyCorp increased their price objective on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Citigroup cut their target price on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. cut Dropbox from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. Finally, The Goldman Sachs Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the company from $26.00 to $24.00 in a research note on Friday, February 16th.

Dropbox Trading Down 0.8 %

NASDAQ:DBX opened at $23.14 on Friday. The stock has a 50 day moving average of $23.73 and a 200-day moving average of $27.04. The firm has a market capitalization of $7.96 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 2.62 and a beta of 0.70. Dropbox has a 52 week low of $21.27 and a 52 week high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $635.00 million for the quarter, compared to the consensus estimate of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. As a group, analysts predict that Dropbox will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $197,242,650.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total value of $3,913,040.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $197,242,650.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the completion of the sale, the insider now owns 233,988 shares of the company’s stock, valued at approximately $5,620,391.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 271,721 shares of company stock worth $6,443,955. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DBX. Jacobs Levy Equity Management Inc. boosted its position in Dropbox by 5.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock worth $120,327,000 after acquiring an additional 227,633 shares during the period. LSV Asset Management boosted its holdings in shares of Dropbox by 3.7% during the first quarter. LSV Asset Management now owns 3,427,430 shares of the company’s stock worth $83,287,000 after purchasing an additional 121,700 shares during the period. Charles Schwab Investment Management Inc. grew its position in Dropbox by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock valued at $88,151,000 after purchasing an additional 98,568 shares in the last quarter. Nordea Investment Management AB increased its stake in Dropbox by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 2,228,624 shares of the company’s stock valued at $65,934,000 after buying an additional 81,729 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Dropbox by 65.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after buying an additional 869,043 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.