Dropbox (NASDAQ:DBX) had its price target trimmed by Canaccord Genuity from $38.00 to $35.00 in a research note released on Friday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on DBX. JMP Securities upped their price target on shares of Dropbox from $35.00 to $37.00 and gave the company an outperform rating in a report on Friday, August 10th. 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 report on Friday, August 10th. Jefferies Financial Group upped their price target on shares of Dropbox to $37.00 and gave the company a buy rating in a report on Friday, August 10th. Zacks Investment Research lowered shares of Dropbox from a buy rating to a hold rating in a research report on Monday, July 16th. Finally, Monness Crespi & Hardt began coverage on shares of Dropbox in a research report on Monday, August 27th. They set a neutral rating for the company. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $34.36.

DBX stock traded up $0.81 during mid-day trading on Friday, reaching $25.55. 14,736,187 shares of the stock traded hands, compared to its average volume of 2,488,557. 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 has a 52 week low of $21.36 and a 52 week high of $43.50.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.07). The business had revenue of $360.30 million for the quarter, compared to the consensus estimate of $352.74 million. Dropbox’s revenue was up 25.7% compared to the same quarter last year. Equities analysts anticipate that Dropbox will post 0.31 EPS for the current fiscal year.

In related news, CEO Andrew Houston sold 61,728 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $27.16, for a total value of $1,676,532.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Quentin Clark sold 16,666 shares of the stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $22.75, for a total transaction of $379,151.50. The disclosure for this sale can be found here. Insiders have sold 469,194 shares of company stock valued at $12,546,564 in the last ninety days.

A number of large investors have recently bought and sold shares of DBX. FMR LLC raised its position in Dropbox by 341.4% in the third quarter. FMR LLC now owns 10,379,810 shares of the company’s stock worth $278,490,000 after purchasing an additional 8,028,401 shares in the last quarter. First Trust Advisors LP raised its position in Dropbox by 1,553.2% in the third quarter. First Trust Advisors LP now owns 3,272,319 shares of the company’s stock worth $87,796,000 after purchasing an additional 3,074,377 shares in the last quarter. Valiant Capital Management L.P. raised its position in Dropbox by 524.9% in the third quarter. Valiant Capital Management L.P. now owns 2,187,199 shares of the company’s stock worth $58,683,000 after purchasing an additional 1,837,199 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new position in Dropbox in the third quarter worth about $37,170,000. Finally, Victory Capital Management Inc. raised its position in Dropbox by 237.1% in the third quarter. Victory Capital Management Inc. now owns 1,938,046 shares of the company’s stock worth $51,998,000 after purchasing an additional 1,363,145 shares in the last quarter. 14.68% of the stock is owned by hedge funds and other institutional investors.

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 has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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Analyst Recommendations for Dropbox (NASDAQ:DBX)

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