Ashraf Alkarmi Sells 12,472 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider Ashraf Alkarmi sold 12,472 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $324,272.00. Following the completion of the transaction, the insider directly owned 414,661 shares in the company, valued at approximately $10,781,186. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dropbox Trading Up 1.6%

Shares of NASDAQ DBX opened at $26.79 on Friday. The firm has a market cap of $6.46 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.86 and a beta of 0.63. The business’s 50 day moving average is $25.89 and its 200-day moving average is $28.22. Dropbox, Inc. has a 1-year low of $23.63 and a 1-year high of $32.40.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The business had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. During the same period in the previous year, the company posted $0.73 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. LSV Asset Management increased its holdings in Dropbox by 38.1% in the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after buying an additional 3,205,140 shares during the period. Norges Bank bought a new position in Dropbox in the fourth quarter valued at approximately $69,909,000. Arbejdsmarkedets Tillaegspension acquired a new position in Dropbox during the fourth quarter valued at approximately $22,050,000. Arrowstreet Capital Limited Partnership raised its position in Dropbox by 11.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,573,627 shares of the company’s stock valued at $210,547,000 after purchasing an additional 767,119 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Dropbox by 47.8% during the third quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock worth $64,164,000 after purchasing an additional 686,577 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DBX. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada decreased their target price on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. JPMorgan Chase & Co. lowered their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Finally, UBS Group dropped their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.50.

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.