Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells 29,917 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 29,917 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $30.07, for a total transaction of $899,604.19. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $248,578,646.62. The trade was a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The shares were sold at an average price of $29.65, for a total value 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 stock was sold at an average price of $28.12, for a total transaction of $3,711,840.00.

Dropbox Price Performance

Shares of NASDAQ DBX traded up $0.16 on Wednesday, hitting $29.74. The company’s stock had a trading volume of 2,146,146 shares, compared to its average volume of 3,156,158. The stock has a 50 day moving average of $28.66 and a 200-day moving average of $25.63. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.86.

Institutional Investors Weigh In On Dropbox

A number of institutional investors and hedge funds have recently bought and sold shares of DBX. Assenagon Asset Management S.A. grew its holdings in shares of Dropbox by 0.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock worth $2,267,000 after buying an additional 383 shares in the last quarter. Quarry LP grew its stake in Dropbox by 23.4% in the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after acquiring an additional 459 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Dropbox by 13.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company’s stock valued at $202,000 after acquiring an additional 926 shares during the last quarter. Covestor Ltd lifted its stake in shares of Dropbox by 34.3% during the 3rd quarter. Covestor Ltd now owns 4,043 shares of the company’s stock worth $102,000 after purchasing an additional 1,033 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Dropbox during the third quarter worth $28,000. Hedge funds and other institutional investors 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.