Brokerages Set Dropbox, Inc. (NASDAQ:DBX) PT at $27.50

Dropbox, Inc. (NASDAQ:DBX) has received an average rating of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $27.50.

A number of brokerages have commented on DBX. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. UBS Group cut their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. JPMorgan Chase & Co. lowered their price target on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada cut their price objective 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.

Dropbox Stock Down 0.6%

DBX stock opened at $25.01 on Tuesday. The company has a 50 day moving average of $25.54 and a two-hundred day moving average of $28.01. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.77 and a beta of 0.63. Dropbox has a 12-month low of $23.63 and a 12-month high of $32.40.

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

Insider Buying and Selling at Dropbox

In other news, CTO Ali Dasdan sold 7,306 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $24.89, for a total transaction of $181,846.34. Following the transaction, the chief technology officer owned 499,379 shares in the company, valued at approximately $12,429,543.31. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $24.49, for a total transaction of $34,677.84. Following the completion of the sale, the chief accounting officer directly owned 86,319 shares of the company’s stock, valued at approximately $2,113,952.31. The trade was a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 453,028 shares of company stock worth $11,773,578. Company insiders own 29.95% of the company’s stock.

Institutional Investors Weigh In On Dropbox

A number of large investors have recently added to or reduced their stakes in the stock. Rossby Financial LCC boosted its holdings in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after buying an additional 527 shares during the period. Neo Ivy Capital Management acquired a new position in Dropbox during the 2nd quarter worth $30,000. Palisade Asset Management LLC bought a new stake in Dropbox during the third quarter valued at about $30,000. First Horizon Corp bought a new stake in Dropbox during the third quarter valued at about $31,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Dropbox in the fourth quarter valued at about $31,000. Institutional investors own 94.84% of the company’s stock.

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.