Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 132,000 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 132,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Andrew Houston also recently made the following trade(s):

• On Tuesday, October 1st, Andrew Houston sold 351,306 shares of Dropbox stock. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72.
• On Thursday, September 26th, Andrew Houston sold 28,012 shares of Dropbox stock. The stock was sold at an average price of $25.01, for a total value of $700,580.12.
• On Tuesday, September 24th, Andrew Houston sold 66,064 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value of $1,651,600.00.
• On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value of $87,325.00.

Dropbox Price Performance

Shares of Dropbox stock traded down $0.04 during trading on Wednesday, hitting $28.69. The stock had a trading volume of 1,296,322 shares, compared to its average volume of 3,621,797. The firm has a market cap of $8.89 billion, a P/E ratio of 16.57, a PEG ratio of 1.59 and a beta of 0.63. The business has a fifty day moving average of $26.57 and a two-hundred day moving average of $24.25. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Institutional Investors Weigh In On Dropbox

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

Wall Street Analysts Forecast Growth

Separately, UBS Group decreased their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Dropbox currently has a consensus rating of “Hold” and an average target price of $28.67.

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.