Insider Selling: Dropbox, Inc. (NASDAQ:DBX) Insider Sells 6,682 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 6,682 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.12, for a total transaction of $154,487.84. Following the completion of the transaction, the insider now directly owns 372,332 shares of the company’s stock, valued at approximately $8,608,315.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, March 15th, Bart Volkmer sold 7,039 shares of Dropbox stock. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78.

Dropbox Stock Down 0.6 %

DBX traded down $0.14 on Wednesday, reaching $22.80. The company had a trading volume of 3,164,613 shares, compared to its average volume of 3,980,114. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The stock has a market capitalization of $7.84 billion, a PE ratio of 17.27, a P/E/G ratio of 2.58 and a beta of 0.71. The stock has a 50-day moving average price of $25.13 and a 200-day moving average price of $27.52.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The company had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $630.77 million. As a group, analysts expect that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DBX shares. JPMorgan Chase & Co. cut shares of Dropbox from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $33.00 to $30.00 in a research report on Friday, February 16th. Citigroup decreased their price objective on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. KeyCorp lifted their price objective on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. JMP Securities cut shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Finally, The Goldman Sachs Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.78.

Institutional Investors Weigh In On Dropbox

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning increased its stake in Dropbox by 0.8% in the fourth quarter. Creative Planning now owns 46,046 shares of the company’s stock valued at $1,357,000 after purchasing an additional 352 shares during the period. Stratos Wealth Partners LTD. increased its stake in Dropbox by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock valued at $681,000 after purchasing an additional 415 shares during the period. iA Global Asset Management Inc. increased its stake in Dropbox by 6.1% in the third quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock valued at $196,000 after purchasing an additional 417 shares during the period. Parallel Advisors LLC increased its stake in Dropbox by 7.4% in the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock valued at $196,000 after purchasing an additional 459 shares during the period. Finally, Cooper Financial Group increased its stake in Dropbox by 3.1% in the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after purchasing an additional 462 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.