Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells $2,493,054.03 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 80,499 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 directly owns 8,266,666 shares of the company’s stock, valued at approximately $256,018,646.02. The trade was a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, January 6th, Andrew Houston sold 29,917 shares of Dropbox stock. The shares were sold at an average price of $30.07, for a total transaction 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 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 shares were sold at an average price of $28.12, for a total value of $3,711,840.00.

Dropbox Trading Up 1.2 %

Shares of DBX opened at $31.48 on Friday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a market capitalization of $9.75 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.58 and a beta of 0.61. The firm has a 50-day moving average price of $29.52 and a 200 day moving average price of $26.34.

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

Hedge Funds Weigh In On Dropbox

Several large investors have recently modified their holdings of DBX. Dimensional Fund Advisors LP raised its holdings in Dropbox by 63.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after buying an additional 986,942 shares during the period. AQR Capital Management LLC boosted its position in shares of Dropbox by 39.7% during the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after buying an additional 859,233 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Dropbox in the third quarter valued at $11,687,000. Caxton Associates LP raised its holdings in shares of Dropbox by 3,014.5% in the 2nd quarter. Caxton Associates LP now owns 400,000 shares of the company’s stock valued at $8,988,000 after buying an additional 387,157 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after acquiring an additional 365,893 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.