Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 80,499 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $256,018,646.02. The trade was a 0.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, January 6th, Andrew Houston sold 29,917 shares of Dropbox stock. The stock was sold at an average price of $30.07, for a total value of $899,604.19.
• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95.
• On Wednesday, December 11th, Andrew Houston sold 137,499 shares of Dropbox stock. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95.
• On Monday, December 2nd, Andrew Houston sold 132,000 shares of Dropbox stock. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00.

Dropbox Trading Down 0.2 %

NASDAQ DBX traded down $0.07 on Thursday, reaching $31.12. 2,175,623 shares of the company were exchanged, compared to its average volume of 2,488,587. The business’s fifty day moving average price is $29.37 and its 200 day moving average price is $26.21. The stock has a market capitalization of $9.64 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The firm had revenue of $638.80 million for the quarter, compared to analysts’ expectations of $636.93 million. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. During the same period last year, the firm earned $0.35 earnings per share. Equities research analysts forecast that Dropbox, Inc. will post 1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.50.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of Dropbox in the third quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new stake in Dropbox in the third quarter valued at approximately $31,000. Quarry LP grew its stake in shares of Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after purchasing an additional 880 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Dropbox by 2,479.4% during the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,686 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Dropbox by 35.6% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after purchasing an additional 472 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.