Dropbox (NASDAQ:DBX) Stock Rating Lowered by Wall Street Zen

Dropbox (NASDAQ:DBX) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

DBX has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday. Royal Bank Of Canada decreased their target price on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.33.

Dropbox Trading Up 0.2%

Shares of Dropbox stock opened at $26.30 on Friday. The firm has a market cap of $6.80 billion, a PE ratio of 14.86, a PEG ratio of 2.15 and a beta of 0.62. The stock has a 50 day moving average of $28.13 and a 200 day moving average of $28.65. Dropbox has a 12 month low of $24.42 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. The business had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. As a group, equities research analysts forecast that Dropbox will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $26.84, for a total value of $31,349.12. Following the transaction, the chief accounting officer owned 92,702 shares in the company, valued at $2,488,121.68. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $29.64, for a total transaction of $44,460.00. Following the completion of the sale, the chief financial officer owned 439,147 shares in the company, valued at $13,016,317.08. This represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 406,620 shares of company stock worth $11,703,370 in the last three months. 29.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dropbox

A number of large investors have recently made changes to their positions in DBX. Rossby Financial LCC lifted its holdings in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Dropbox in the second quarter worth about $30,000. Palisade Asset Management LLC acquired a new stake in Dropbox in the third quarter worth about $30,000. First Horizon Corp purchased a new stake in shares of Dropbox during the third quarter worth about $31,000. Finally, LRI Investments LLC increased its holdings in shares of Dropbox by 666.7% during the third quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.