Brokerages Set Dropbox, Inc. (NASDAQ:DBX) PT at $31.75

Dropbox, Inc. (NASDAQ:DBX) has been given a consensus rating of “Hold” by the five research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.75.

DBX has been the subject of a number of recent analyst reports. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th.

Dropbox Stock Down 0.1%

Shares of Dropbox stock opened at $27.96 on Friday. The company has a market cap of $7.23 billion, a P/E ratio of 15.80, a PEG ratio of 2.39 and a beta of 0.63. The firm’s 50 day moving average price is $29.19 and its 200-day moving average price is $28.84. Dropbox has a 52-week low of $24.42 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The company had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.59 million. During the same period last year, the firm earned $0.60 earnings per share. Dropbox’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Dropbox will post 1.64 EPS for the current fiscal year.

Insider Activity at Dropbox

In related news, CEO Andrew Houston sold 9,167 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $30.00, for a total value of $275,010.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Ali Dasdan sold 5,666 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.00, for a total value of $169,980.00. Following the completion of the transaction, the chief technology officer owned 520,474 shares of the company’s stock, valued at $15,614,220. This trade represents a 1.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 360,349 shares of company stock worth $10,714,904 in the last 90 days. 28.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. LSV Asset Management lifted its holdings in shares of Dropbox by 38.1% during the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after purchasing an additional 3,205,140 shares during the period. Acadian Asset Management LLC raised its position in Dropbox by 1.9% during the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock worth $228,202,000 after buying an additional 157,148 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Dropbox by 2.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 6,806,508 shares of the company’s stock valued at $205,625,000 after acquiring an additional 144,347 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Dropbox by 1.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after acquiring an additional 70,867 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Dropbox by 29.1% in the 3rd quarter. Northern Trust Corp now owns 2,488,077 shares of the company’s stock valued at $75,165,000 after acquiring an additional 560,694 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.