Dropbox (DBX) Ascends While Market Falls: Some Facts to Note
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Is the Options Market Predicting a Spike in Dropbox (DBX) Stock?
Investors need to pay close attention to Dropbox (DBX) stock based on the movements in the options market lately.
Dropbox (DBX) is Trading Dirt-Cheap: Should You Buy the Stock?
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Dropbox (DBX) is Trading Dirt-Cheap: Should You Buy the Stock?
Dropbox's (DBX) cheap valuation and strong prospects, driven by an expanding AI-powered portfolio partnered with NVIDIA, make it an attractive pick.
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Natixis Advisors L.P. Purchases Shares of 12,025 Dropbox, Inc. (NASDAQ:DBX)
Natixis Advisors L.P. acquired a new stake in Dropbox, Inc. (NASDAQ:DBX – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,025 shares of the company’s stock, valued at approximately $354,000. A number of other hedge funds have also recently made changes to their positions in DBX. Fisher Asset Management LLC lifted its position in Dropbox by 10.9% in the 4th quarter. Fisher Asset Management LLC now owns 130,164 shares of the company’s stock valued at $3,837,000 after acquiring an additional 12,782 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Dropbox by 59.8% during the fourth quarter. Victory Capital Management Inc. now owns 187,167 shares of the company’s stock worth $5,518,000 after buying an additional 70,028 shares in the last quarter. Russell Investments Group Ltd. raised its position in Dropbox by 2.1% in the 4th quarter. Russell Investments Group Ltd. now owns 1,159,083 shares of the company’s stock valued at $34,215,000 after buying an additional 23,986 shares during the last quarter. Truist Financial Corp lifted its stake in Dropbox by 1.8% during the 4th quarter. Truist Financial Corp now owns 42,999 shares of the company’s stock valued at $1,268,000 after acquiring an additional 769 shares in the last quarter. Finally, Meritage Portfolio Management boosted its holdings in Dropbox by 6.4% during the 4th quarter. Meritage Portfolio Management now owns 342,484 shares of the company’s stock worth $10,096,000 after acquiring an additional 20,523 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds. Dropbox Stock Down 1.0 % Shares of NASDAQ DBX opened at $23.73 on Monday. The company has a market cap of $7.84 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.81 and a beta of 0.70. Dropbox, Inc. has a 52 week low of $22.02 and a 52 week high of $33.43. The business has a 50-day simple moving average of $23.69 and a two-hundred day simple moving average of $26.94. Dropbox (NASDAQ:DBX – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The company had revenue of $631.30 million for the quarter, compared to the consensus estimate of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. Equities research analysts anticipate that Dropbox, Inc. will post 1.14 EPS for the current year. Analysts Set New Price Targets A number of research analysts recently weighed in on the stock. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $30.00 in a report on Friday, February 16th. Citigroup reduced their price objective on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. Finally, The Goldman Sachs Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and reduced their price target for the company from $26.00 to $24.00 in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus target price of $29.78. Get Our Latest Analysis on Dropbox Insider Buying and Selling at Dropbox In related news, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $197,242,650.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dropbox news, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $197,242,650.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bart Volkmer sold 7,039 shares of Dropbox stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $24.02, for a total transaction of $169,076.78. Following the transaction, the insider now directly owns 233,988 shares in the company, valued at $5,620,391.76. The disclosure for this sale can be found here. Insiders sold a total of 271,721 shares of company stock worth $6,443,955 over the last three months. 26.40% of the stock is owned by insiders. Dropbox Company Profile (Free Report) 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.
