Bart Volkmer Sells 7,054 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) insider Bart Volkmer sold 7,054 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $27.14, for a total value of $191,445.56. Following the sale, the insider now directly owns 305,658 shares in the company, valued at approximately $8,295,558.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, July 11th, Bart Volkmer sold 10,000 shares of Dropbox stock. The shares were sold at an average price of $27.55, for a total value of $275,500.00.

Dropbox Stock Performance

NASDAQ DBX traded down $0.06 on Tuesday, reaching $26.51. The stock had a trading volume of 2,592,639 shares, compared to its average volume of 3,661,033. The stock has a market cap of $9.22 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. The business’s 50-day moving average price is $27.36 and its 200 day moving average price is $24.23. Dropbox, Inc. has a 12-month low of $18.71 and a 12-month high of $28.68.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.07. The firm had revenue of $622.50 million during the quarter, compared to analysts’ expectations of $613.64 million. Dropbox had a net margin of 21.61% and a negative return on equity of 79.08%. On average, sell-side analysts predict that Dropbox, Inc. will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nemes Rush Group LLC acquired a new position in Dropbox in the 2nd quarter valued at $27,000. Penserra Capital Management LLC acquired a new position in shares of Dropbox during the second quarter worth about $29,000. Raleigh Capital Management Inc. purchased a new position in Dropbox during the second quarter worth about $30,000. Huntington National Bank lifted its position in Dropbox by 2,160.0% in the second quarter. Huntington National Bank now owns 1,130 shares of the company’s stock valued at $30,000 after purchasing an additional 1,080 shares during the period. Finally, Covestor Ltd boosted its holdings in Dropbox by 446.6% in the 1st quarter. Covestor Ltd now owns 1,372 shares of the company’s stock valued at $32,000 after purchasing an additional 1,121 shares in the last quarter. Hedge funds and other institutional investors own 70.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on DBX. Royal Bank of Canada increased their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Credit Suisse Group lifted their price target on Dropbox from $18.00 to $22.00 and gave the stock an “underperform” rating in a report on Friday, August 4th. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Dropbox in a research report on Thursday, August 31st. William Blair lowered Dropbox from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, KeyCorp upped their price target on Dropbox from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Dropbox has an average rating of “Hold” and an average target price of $29.14.

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.