Dropbox (NASDAQ:DBX) Price Target Lowered to $30.00 at Royal Bank Of Canada

by · The Cerbat Gem

Dropbox (NASDAQ:DBXGet Free Report) had its price target lowered by analysts at Royal Bank Of Canada from $35.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 18.92% from the stock’s current price.

A number of other brokerages have also commented on DBX. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.67.

View Our Latest Research Report on DBX

Dropbox Trading Up 2.0%

Shares of DBX stock traded up $0.50 during trading hours on Friday, hitting $25.23. 1,007,099 shares of the company were exchanged, compared to its average volume of 3,945,696. Dropbox has a 52 week low of $23.63 and a 52 week high of $32.40. The business has a 50 day moving average of $26.53 and a two-hundred day moving average of $28.35. The company has a market capitalization of $6.53 billion, a PE ratio of 14.17, a PEG ratio of 2.02 and a beta of 0.63.

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $29.64, for a total value of $44,460.00. Following the sale, the chief financial officer directly owned 439,147 shares in the company, valued at $13,016,317.08. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sarah Elizabeth Schubach sold 1,416 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $24.49, for a total value of $34,677.84. Following the transaction, the chief accounting officer owned 86,319 shares in the company, valued at approximately $2,113,952.31. The trade was a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 430,423 shares of company stock worth $11,705,876 over the last ninety days. Insiders own 29.95% of the company’s stock.

Institutional Trading of Dropbox

A number of institutional investors have recently modified their holdings of the company. LSV Asset Management raised its position in shares of Dropbox by 38.1% in the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after purchasing an additional 3,205,140 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Dropbox during the second quarter valued at $1,404,000. Kestra Investment Management LLC purchased a new position in shares of Dropbox in the 2nd quarter worth $682,000. CenterBook Partners LP bought a new stake in shares of Dropbox in the 2nd quarter worth about $2,368,000. Finally, Norges Bank purchased a new stake in shares of Dropbox during the 2nd quarter valued at about $51,307,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Dropbox

Here are the key news stories impacting Dropbox this week:

About Dropbox

(Get Free Report)

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.

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