Dropbox Inc (NASDAQ:DBX) reached a new 52-week low on Thursday following insider selling activity. The company traded as low as $17.25 and last traded at $17.58, with a volume of 27279 shares traded. The stock had previously closed at $17.57.

Specifically, CFO Ajay Vashee sold 13,731 shares of Dropbox stock in a transaction on Friday, May 24th. The stock was sold at an average price of $22.62, for a total transaction of $310,595.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Bart Volkmer sold 12,176 shares of Dropbox stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.33, for a total value of $284,066.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,035 shares of company stock valued at $3,147,299. 31.20% of the stock is currently owned by insiders.

Several equities analysts have weighed in on DBX shares. TheStreet downgraded Dropbox from a “c-” rating to a “d+” rating in a research report on Friday, August 9th. DA Davidson dropped coverage on Dropbox in a research report on Friday, August 9th. Zacks Investment Research downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Wednesday. William Blair dropped coverage on Dropbox in a research report on Friday, August 9th. Finally, Nomura dropped their price target on Dropbox from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Dropbox has a consensus rating of “Hold” and a consensus target price of $28.13.

The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of -13.37 and a beta of 1.39. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. The company’s 50-day simple moving average is $23.73.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.15. The business had revenue of $401.50 million during the quarter, compared to the consensus estimate of $401.09 million. Dropbox had a negative return on equity of 6.70% and a negative net margin of 2.91%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 earnings per share. On average, sell-side analysts predict that Dropbox Inc will post -0.11 EPS for the current year.

Large investors have recently made changes to their positions in the company. TrinityPoint Wealth LLC grew its position in Dropbox by 2.7% during the first quarter. TrinityPoint Wealth LLC now owns 17,375 shares of the company’s stock valued at $379,000 after acquiring an additional 450 shares during the period. Private Advisor Group LLC grew its position in Dropbox by 4.7% during the second quarter. Private Advisor Group LLC now owns 12,644 shares of the company’s stock valued at $317,000 after acquiring an additional 565 shares during the period. US Bancorp DE grew its position in Dropbox by 10.4% during the second quarter. US Bancorp DE now owns 9,517 shares of the company’s stock valued at $238,000 after acquiring an additional 900 shares during the period. Emerald Advisers LLC grew its position in Dropbox by 2.0% during the second quarter. Emerald Advisers LLC now owns 52,765 shares of the company’s stock valued at $1,322,000 after acquiring an additional 1,053 shares during the period. Finally, Glen Harbor Capital Management LLC grew its position in Dropbox by 203.0% during the second quarter. Glen Harbor Capital Management LLC now owns 1,600 shares of the company’s stock valued at $40,000 after acquiring an additional 1,072 shares during the period. 29.43% of the stock is owned by institutional investors and hedge funds.

Dropbox Company Profile (NASDAQ:DBX)

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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