Insider Selling: Dropbox Inc (DBX) General Counsel Sells 4,306 Shares of Stock

Dropbox Inc (NASDAQ:DBX) General Counsel Bart Volkmer sold 4,306 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $23.25, for a total value of $100,114.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bart Volkmer also recently made the following trade(s):

  • On Tuesday, November 20th, Bart Volkmer sold 4,303 shares of Dropbox stock. The stock was sold at an average price of $21.00, for a total value of $90,363.00.
  • On Friday, September 21st, Bart Volkmer sold 8,606 shares of Dropbox stock. The stock was sold at an average price of $26.58, for a total value of $228,747.48.

Shares of NASDAQ:DBX opened at $21.51 on Friday. Dropbox Inc has a fifty-two week low of $19.54 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). Dropbox had a negative net margin of 38.83% and a negative return on equity of 158.23%. The company had revenue of $360.30 million during the quarter, compared to the consensus estimate of $352.74 million. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. Analysts anticipate that Dropbox Inc will post -1.06 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its position in Dropbox by 41.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,914 shares of the company’s stock valued at $581,000 after acquiring an additional 5,271 shares during the period. Federated Investors Inc. PA grew its position in Dropbox by 24.7% in the second quarter. Federated Investors Inc. PA now owns 1,618,714 shares of the company’s stock valued at $52,479,000 after acquiring an additional 320,380 shares during the period. Peregrine Asset Advisers Inc. bought a new stake in Dropbox in the second quarter valued at $2,181,000. Raymond James Financial Services Advisors Inc. bought a new stake in Dropbox in the second quarter valued at $254,000. Finally, Cornerstone Wealth Management LLC bought a new stake in Dropbox in the second quarter valued at $255,000. Hedge funds and other institutional investors own 21.57% of the company’s stock.

A number of analysts have recently issued reports on DBX shares. JMP Securities boosted their price objective on Dropbox from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Royal Bank of Canada upgraded Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a research report on Friday, August 10th. Canaccord Genuity boosted their price objective on Dropbox from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Jefferies Financial Group boosted their price objective on Dropbox to $37.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research upgraded Dropbox from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Monday, August 13th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $33.93.

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About Dropbox

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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