Andrew Houston Sells 66,064 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 66,064 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $206,666,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00.
• On Monday, July 1st, Andrew Houston sold 82,000 shares of Dropbox stock. The stock was sold at an average price of $22.40, for a total transaction of $1,836,800.00.

Dropbox Trading Up 1.3 %

Shares of Dropbox stock opened at $25.31 on Friday. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The firm has a market capitalization of $8.36 billion, a PE ratio of 16.76, a P/E/G ratio of 1.55 and a beta of 0.61. The firm’s 50-day moving average price is $23.72 and its 200 day moving average price is $23.26.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The business had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. During the same quarter last year, the business posted $0.28 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts predict that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DBX. Citigroup reduced their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. UBS Group reduced their target price 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 investment 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.com, the company currently has an average rating of “Hold” and an average target price of $28.67.

Institutional Investors Weigh In On Dropbox

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new stake in shares of Dropbox in the first quarter valued at about $28,000. GAMMA Investing LLC grew its stake in Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after acquiring an additional 907 shares in the last quarter. Fifth Third Bancorp grew its stake in Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after acquiring an additional 1,169 shares in the last quarter. Quarry LP lifted its stake in Dropbox by 81.1% in the 2nd 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. Finally, EntryPoint Capital LLC purchased a new position in Dropbox in the 1st quarter worth approximately $65,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.