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

Dropbox, Inc. (NASDAQ:DBXGet Free Report) 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:DBXGet Free Report) 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.

Get Our Latest Research Report on Dropbox

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

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Dropbox (NASDAQ:DBX)

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.