Dropbox Inc (NASDAQ:DBX) CEO Andrew Houston sold 61,728 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $27.16, for a total value of $1,676,532.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of DBX opened at $26.70 on Friday. Dropbox Inc has a 12-month low of $26.25 and a 12-month high of $43.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.39 and a current ratio of 1.39.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $339.20 million for the quarter, compared to the consensus estimate of $330.90 million. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. analysts forecast that Dropbox Inc will post 0.3 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in Dropbox in the 2nd quarter worth approximately $1,160,000. Advisors Asset Management Inc. bought a new stake in Dropbox in the 2nd quarter worth approximately $221,000. California Public Employees Retirement System bought a new stake in Dropbox in the 2nd quarter worth approximately $528,000. Millennium Management LLC increased its stake in Dropbox by 44.2% in the 2nd quarter. Millennium Management LLC now owns 38,546 shares of the company’s stock worth $1,250,000 after acquiring an additional 11,812 shares during the last quarter. Finally, Partner Fund Management L.P. increased its stake in Dropbox by 124.5% in the 2nd quarter. Partner Fund Management L.P. now owns 1,529,689 shares of the company’s stock worth $49,593,000 after acquiring an additional 848,387 shares during the last quarter. 13.82% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on DBX shares. Zacks Investment Research raised Dropbox from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Monday, August 13th. Canaccord Genuity lifted their price objective on Dropbox from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, May 11th. Jefferies Financial Group lifted their price objective on Dropbox to $37.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Monness Crespi & Hardt started coverage on Dropbox in a research report on Monday. They set a “neutral” rating on the stock. Finally, JMP Securities lifted their price objective on Dropbox from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.29.

Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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