Dropbox (NASDAQ:DBX) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Dropbox (NASDAQ:DBX) from a strong sell rating to a sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

Several other analysts also recently weighed in on DBX. Zacks Investment Research downgraded shares of Dropbox from a buy rating to a hold rating in a research report on Thursday, November 14th. Jefferies Financial Group downgraded shares of Dropbox from a buy rating to a hold rating and dropped their price objective for the company from $28.00 to $19.00 in a report on Thursday, January 9th. William Blair reaffirmed a buy rating on shares of Dropbox in a report on Tuesday, November 26th. Nomura upped their price objective on shares of Dropbox from $25.00 to $27.00 and gave the company a buy rating in a report on Friday, November 8th. Finally, Instinet raised shares of Dropbox from a neutral rating to a buy rating and upped their price objective for the company from $18.92 to $25.00 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $27.20.

NASDAQ:DBX opened at $18.53 on Tuesday. The company has a market cap of $7.70 billion, a PE ratio of -142.54 and a beta of 1.48. Dropbox has a twelve month low of $16.08 and a twelve month high of $26.49. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $17.83 and its two-hundred day moving average is $18.87.

In related news, CAO Timothy Regan sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $18.87, for a total value of $56,610.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Quentin Clark sold 8,333 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $19.01, for a total transaction of $158,410.33. The disclosure for this sale can be found here. Insiders sold a total of 13,333 shares of company stock worth $250,960 over the last ninety days. Insiders own 31.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of DBX. Renaissance Technologies LLC lifted its stake in shares of Dropbox by 54.1% in the 4th quarter. Renaissance Technologies LLC now owns 17,599,516 shares of the company’s stock valued at $315,207,000 after purchasing an additional 6,180,409 shares during the period. BlackRock Inc. raised its position in Dropbox by 35.8% during the second quarter. BlackRock Inc. now owns 18,369,211 shares of the company’s stock worth $460,147,000 after acquiring an additional 4,847,447 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Dropbox by 244.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,185,720 shares of the company’s stock worth $39,146,000 after acquiring an additional 1,551,175 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its position in Dropbox by 5,842.7% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,260,514 shares of the company’s stock worth $22,575,000 after acquiring an additional 1,239,303 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Dropbox by 176.6% during the third quarter. Point72 Asset Management L.P. now owns 1,886,489 shares of the company’s stock worth $38,050,000 after acquiring an additional 1,204,356 shares during the period. Hedge funds and other institutional investors own 42.56% of the company’s stock.

About Dropbox

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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Analyst Recommendations for Dropbox (NASDAQ:DBX)

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