Brokerages Set Dropbox, Inc. (NASDAQ:DBX) Price Target at $28.86

Shares of Dropbox, Inc. (NASDAQ:DBX) have been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $28.86.

Separately, Jefferies Financial Group increased their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th.

Dropbox Trading Down 1.1 %

Shares of DBX opened at $29.41 on Monday. The company has a market cap of $9.11 billion, a P/E ratio of 17.00, a P/E/G ratio of 1.67 and a beta of 0.63. Dropbox has a twelve month low of $20.68 and a twelve month high of $33.43. The company’s fifty day simple moving average is $28.88 and its 200-day simple moving average is $25.79.

Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 29,917 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $30.07, for a total transaction of $899,604.19. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $248,578,646.62. This represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the transaction, the chief financial officer now directly owns 413,764 shares of the company’s stock, valued at $12,570,150.32. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 822,069 shares of company stock valued at $24,209,501. Company insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

A number of large investors have recently made changes to their positions in DBX. Renaissance Technologies LLC raised its stake in shares of Dropbox by 5.2% in the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after purchasing an additional 506,200 shares during the last quarter. Pacer Advisors Inc. grew its stake in Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after acquiring an additional 333,245 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after purchasing an additional 365,893 shares during the period. Geode Capital Management LLC increased its stake in Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Dropbox by 9.2% during the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock worth $84,089,000 after purchasing an additional 314,862 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Company Profile

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.