Dropbox’s (DBX) “Underperform” Rating Reiterated at William Blair

William Blair reissued their underperform rating on shares of Dropbox (NASDAQ:DBX) in a research report report published on Monday, MarketBeat.com reports.

Other equities analysts have also recently issued reports about the stock. UBS Group cut their target price on shares of 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. decreased their price target on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Royal Bank Of Canada cut their price objective on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Dropbox presently has a consensus rating of “Reduce” and an average price target of $27.50.

Dropbox Stock Down 1.8%

DBX opened at $22.70 on Monday. The stock’s 50 day moving average price is $25.33 and its two-hundred day moving average price is $27.88. The firm has a market capitalization of $5.48 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.63 and a beta of 0.63. Dropbox has a 12-month low of $22.51 and a 12-month high of $32.40.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The company had revenue of $636.20 million during the quarter, compared to analyst estimates of $627.83 million. During the same period in the previous year, the company earned $0.73 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, analysts anticipate that Dropbox will post 1.64 earnings per share for the current year.

Insider Buying and Selling at Dropbox

In other news, CAO Sarah Elizabeth Schubach sold 1,415 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $25.76, for a total transaction of $36,450.40. Following the completion of the transaction, the chief accounting officer directly owned 83,489 shares of the company’s stock, valued at approximately $2,150,676.64. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Ali Dasdan sold 7,306 shares of Dropbox stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $24.89, for a total transaction of $181,846.34. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 453,028 shares of company stock worth $11,773,578 over the last three months. 29.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DBX. Rossby Financial LCC lifted its stake in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after purchasing an additional 527 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Dropbox in the 2nd quarter valued at approximately $30,000. Palisade Asset Management LLC acquired a new position in shares of Dropbox in the 3rd quarter worth approximately $30,000. First Horizon Corp acquired a new position in shares of Dropbox in the 3rd quarter worth approximately $31,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Dropbox during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Company Profile

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.