Andrew Houston Sells 9,167 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 9,167 shares of Dropbox stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $30.00, for a total transaction of $275,010.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The shares were sold at an average price of $29.53, for a total transaction of $2,716,760.00.
• On Friday, November 14th, Andrew Houston sold 101,167 shares of Dropbox stock. The shares were sold at an average price of $30.23, for a total transaction of $3,058,278.41.
• On Wednesday, October 1st, Andrew Houston sold 101,167 shares of Dropbox stock. The stock was sold at an average price of $29.64, for a total transaction of $2,998,589.88.
• On Monday, September 8th, Andrew Houston sold 45,835 shares of Dropbox stock. The stock was sold at an average price of $30.04, for a total transaction of $1,376,883.40.

Dropbox Trading Down 1.5%

NASDAQ:DBX traded down $0.44 on Friday, reaching $29.34. The stock had a trading volume of 2,397,393 shares, compared to its average volume of 3,616,214. The company has a 50-day moving average of $29.53 and a 200 day moving average of $28.90. The stock has a market cap of $7.59 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63. Dropbox, Inc. has a 12-month low of $24.42 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. The business had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, equities analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rossby Financial LCC raised its position in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after acquiring an additional 527 shares in the last quarter. Elequin Capital LP increased its stake in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after purchasing an additional 469 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Dropbox during the second quarter valued at $30,000. Palisade Asset Management LLC acquired a new stake in shares of Dropbox during the third quarter worth $30,000. Finally, First Horizon Corp bought a new position in shares of Dropbox in the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DBX shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. UBS Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Royal Bank Of Canada raised their price objective on shares of Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.75.

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.