Dropbox, Inc. (NASDAQ:DBX – Get Free Report) insider Bart Volkmer sold 6,682 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $23.12, for a total transaction of $154,487.84. Following the sale, the insider now owns 372,332 shares of the company’s stock, valued at approximately $8,608,315.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Bart Volkmer also recently made the following trade(s):
- On Friday, March 15th, Bart Volkmer sold 7,039 shares of Dropbox stock. The stock was sold at an average price of $24.02, for a total transaction of $169,076.78.
Dropbox Stock Performance
Dropbox stock opened at $22.80 on Thursday. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The firm has a 50 day moving average price of $25.13 and a 200 day moving average price of $27.52. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.58 and a beta of 0.71.
Institutional Trading of Dropbox
Several institutional investors have recently added to or reduced their stakes in DBX. PNC Financial Services Group Inc. raised its holdings in Dropbox by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,730 shares of the company’s stock valued at $133,000 after acquiring an additional 918 shares in the last quarter. D.A. Davidson & CO. bought a new stake in Dropbox during the first quarter valued at $217,000. MetLife Investment Management LLC bought a new stake in Dropbox during the first quarter valued at $447,000. Blair William & Co. IL increased its stake in Dropbox by 233.0% during the first quarter. Blair William & Co. IL now owns 102,489 shares of the company’s stock valued at $2,383,000 after purchasing an additional 71,708 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Dropbox by 47.6% during the first quarter. Canada Pension Plan Investment Board now owns 21,710 shares of the company’s stock valued at $505,000 after purchasing an additional 7,000 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have commented on DBX shares. Citigroup cut their price objective on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. KeyCorp upped their price objective on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $30.00 in a research report on Friday, February 16th. The Goldman Sachs Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and cut their price target for the company from $26.00 to $24.00 in a report on Friday, February 16th. Finally, Bank of America downgraded shares of Dropbox from a “buy” rating to an “underperform” rating and cut their price target for the company from $34.00 to $28.00 in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.78.
View Our Latest Stock Report on Dropbox
About Dropbox
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.
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