Dropbox (NASDAQ:DBX) Price Target Raised to $30.00

Dropbox (NASDAQ:DBX) had its price objective lifted by Jefferies Financial Group from $27.00 to $30.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $29.74 on Monday. The stock’s 50-day moving average is $28.66 and its two-hundred day moving average is $25.63. Dropbox has a 1-year low of $20.68 and a 1-year high of $33.43. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61.

Insider Transactions at Dropbox

In other Dropbox news, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the sale, the insider now owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 822,069 shares of company stock valued at $24,209,501. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in Dropbox during the third quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox in the 3rd quarter valued at approximately $31,000. Quarry LP boosted its holdings in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after buying an additional 880 shares in the last quarter. UMB Bank n.a. boosted its position in Dropbox by 2,479.4% during the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,686 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Dropbox by 133.3% in the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after purchasing an additional 1,650 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

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.