Dropbox Inc (NASDAQ:DBX) CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $27.23, for a total value of $373,895.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
NASDAQ DBX opened at $27.01 on Thursday. Dropbox Inc has a twelve month low of $26.50 and a twelve month high of $43.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.39 and a current ratio of 1.39.
Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The firm had revenue of $339.20 million for the quarter, compared to the consensus estimate of $330.90 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue was up 27.2% on a year-over-year basis. equities research analysts forecast that Dropbox Inc will post 0.3 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in Dropbox during the first quarter valued at about $24,775,000. LPL Financial LLC bought a new stake in shares of Dropbox in the 1st quarter valued at approximately $886,000. American Century Companies Inc. bought a new stake in shares of Dropbox in the 1st quarter valued at approximately $2,031,000. New Jersey Better Educational Savings Trust bought a new stake in shares of Dropbox in the 2nd quarter valued at approximately $292,000. Finally, BlackRock Inc. bought a new stake in shares of Dropbox in the 1st quarter valued at approximately $327,409,000. Hedge funds and other institutional investors own 13.82% of the company’s stock.
Several equities analysts recently weighed in on DBX shares. JPMorgan Chase & Co. boosted their price objective on Dropbox to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 11th. Zacks Investment Research cut Dropbox from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Monness Crespi & Hardt started coverage on Dropbox in a research report on Monday. They set a “neutral” rating for the company. Jefferies Financial Group raised Dropbox from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Canaccord Genuity boosted their price objective on Dropbox from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, May 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $34.29.
Dropbox Company Profile
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 was founded in 2007 and is headquartered in San Francisco, California.
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