Quentin Clark Sells 16,666 Shares of Dropbox Inc (DBX) Stock

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Dropbox Inc (NASDAQ:DBX) insider Quentin Clark sold 16,666 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 transaction of $453,815.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ:DBX opened at $27.01 on Thursday. Dropbox Inc has a one year low of $26.50 and a one year 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 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $339.20 million for the quarter, compared to analyst estimates of $330.90 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. research analysts forecast that Dropbox Inc will post 0.3 EPS for the current year.

DBX has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on shares of Dropbox to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, May 22nd. Monness Crespi & Hardt started coverage on shares of Dropbox in a research report on Monday. They set a “neutral” rating for the company. Royal Bank of Canada upgraded shares of Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 price target for the company in a research report on Friday, August 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Dropbox to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Dropbox currently has an average rating of “Buy” and a consensus target price of $34.29.

Several large investors have recently modified their holdings of DBX. JPMorgan Chase & Co. acquired a new position in Dropbox during the first quarter valued at approximately $24,775,000. LPL Financial LLC acquired a new position in Dropbox during the first quarter valued at approximately $886,000. American Century Companies Inc. acquired a new position in Dropbox during the first quarter valued at approximately $2,031,000. New Jersey Better Educational Savings Trust acquired a new position in Dropbox during the second quarter valued at approximately $292,000. Finally, BlackRock Inc. acquired a new position in Dropbox during the first quarter valued at approximately $327,409,000. Institutional investors own 13.82% of the company’s stock.

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 was founded in 2007 and is headquartered in San Francisco, California.

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