Karen Peacock Sells 2,000 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the transaction, the director owned 24,366 shares of the company’s stock, valued at approximately $706,614. This represents a 7.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Peacock also recently made the following trade(s):

• On Friday, May 15th, Karen Peacock sold 4,000 shares of Dropbox stock. The shares were sold at an average price of $26.50, for a total value of $106,000.00.

Dropbox Price Performance

Shares of DBX traded up $0.58 during midday trading on Thursday, hitting $29.41. 2,221,018 shares of the company traded hands, compared to its average volume of 3,963,560. The stock has a 50-day moving average of $26.89 and a 200-day moving average of $25.87. Dropbox, Inc. has a one year low of $21.69 and a one year high of $32.40. The firm has a market cap of $6.86 billion, a P/E ratio of 16.07, a PEG ratio of 3.16 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The firm had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts forecast that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. WealthCollab LLC grew its stake in Dropbox by 20.6% during the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock valued at $65,000 after acquiring an additional 403 shares in the last quarter. Parallel Advisors LLC increased its holdings in Dropbox by 8.3% in the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after acquiring an additional 440 shares during the last quarter. Lakewood Asset Management LLC lifted its stake in Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after purchasing an additional 458 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Dropbox by 1.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock worth $730,000 after purchasing an additional 466 shares in the last quarter. Finally, Merit Financial Group LLC boosted its holdings in shares of Dropbox by 4.4% during the 3rd quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock valued at $344,000 after purchasing an additional 480 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DBX. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. William Blair restated an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Finally, Citigroup lifted their price objective on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $27.00.

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.