Karen Peacock Sells 2,000 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) Director Karen Peacock sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the completion of the transaction, the director owned 24,366 shares in the company, valued at approximately $706,614. This trade represents a 7.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Peacock also recently made the following trade(s):

• On Friday, May 15th, Karen Peacock sold 4,000 shares of Dropbox stock. The shares were sold at an average price of $26.50, for a total transaction of $106,000.00.

Dropbox Price Performance

NASDAQ DBX opened at $29.19 on Friday. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40. The stock has a market capitalization of $6.81 billion, a P/E ratio of 15.95, a PEG ratio of 3.22 and a beta of 0.66. The firm’s 50-day moving average is $27.10 and its two-hundred day moving average is $25.89.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The business had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts anticipate that Dropbox, Inc. will post 2.09 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Palisade Asset Management LLC purchased a new position in Dropbox in the third quarter valued at about $30,000. Kestra Advisory Services LLC purchased a new position in Dropbox in the fourth quarter valued at about $31,000. Larson Financial Group LLC raised its position in shares of Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after purchasing an additional 791 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after buying an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Dropbox in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

DBX has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Citigroup lifted their target price on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. William Blair reissued an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Dropbox has an average rating of “Reduce” and an average price target of $27.00.

Dropbox Company Profile

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.