Dropbox, Inc. (NASDAQ:DBX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Dropbox, Inc. (NASDAQ:DBX) have been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $28.86.

Separately, Jefferies Financial Group lifted their price objective on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday.

Dropbox Stock Up 0.2 %

NASDAQ:DBX traded up $0.07 during midday trading on Monday, reaching $30.07. The stock had a trading volume of 3,654,628 shares, compared to its average volume of 2,994,240. The firm has a fifty day simple moving average of $28.49 and a two-hundred day simple moving average of $25.48. Dropbox has a 12-month low of $20.68 and a 12-month high of $33.43. The stock has a market cap of $9.31 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.68 and a beta of 0.61.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the transaction, the chief financial officer now owns 413,764 shares of the company’s stock, valued at $12,570,150.32. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 132,000 shares of Dropbox stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $232,458,647.92. This trade represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 281,829 shares of company stock valued at $8,178,820 in the last 90 days. 26.40% of the stock is currently owned by insiders.

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC purchased a new stake in Dropbox in the 4th quarter valued at about $3,205,000. GAMMA Investing LLC grew its holdings in Dropbox by 122.9% in the 4th quarter. GAMMA Investing LLC now owns 6,436 shares of the company’s stock valued at $193,000 after buying an additional 3,548 shares during the period. DGS Capital Management LLC grew its holdings in Dropbox by 22.5% in the 3rd quarter. DGS Capital Management LLC now owns 13,767 shares of the company’s stock valued at $350,000 after buying an additional 2,532 shares during the period. Retirement Systems of Alabama grew its holdings in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after buying an additional 124,528 shares during the period. Finally, American Trust purchased a new stake in Dropbox in the 3rd quarter valued at about $271,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.