Dropbox (NASDAQ:DBX) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Dropbox (NASDAQ:DBX) issued its quarterly earnings results on Thursday. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02, FiscalAI reports. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million.

Dropbox Stock Up 0.2%

DBX stock traded up $0.05 during trading on Thursday, hitting $24.73. 6,473,204 shares of the company’s stock traded hands, compared to its average volume of 4,054,760. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 2.00 and a beta of 0.63. Dropbox has a 52 week low of $23.63 and a 52 week high of $32.55. The stock has a fifty day moving average price of $26.59 and a two-hundred day moving average price of $28.38.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DBX shares. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Royal Bank Of Canada reduced their price objective on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.33.

Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 164,502 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.66, for a total transaction of $4,221,121.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 1,500 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $29.64, for a total transaction of $44,460.00. Following the sale, the chief financial officer owned 439,147 shares in the company, valued at approximately $13,016,317.08. This trade represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 429,007 shares of company stock valued at $11,671,198. Corporate insiders own 29.95% of the company’s stock.

Institutional Trading of Dropbox

Several hedge funds have recently made changes to their positions in the stock. Atlas Capital Advisors Inc. bought a new position in Dropbox during the 4th quarter worth $223,000. Qtron Investments LLC acquired a new position in shares of Dropbox during the third quarter valued at $229,000. FORA Capital LLC bought a new position in shares of Dropbox during the third quarter worth about $228,000. Vise Technologies Inc. acquired a new stake in shares of Dropbox in the 3rd quarter worth about $209,000. Finally, Certuity LLC bought a new stake in Dropbox in the 3rd quarter valued at about $235,000. Institutional investors 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.