Andrew Houston Sells 3,493 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 3,493 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $206,666,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, July 1st, Andrew Houston sold 82,000 shares of Dropbox stock. The shares were sold at an average price of $22.40, for a total transaction of $1,836,800.00.

Dropbox Stock Performance

NASDAQ DBX opened at $24.93 on Wednesday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The business’s fifty day moving average is $23.66 and its two-hundred day moving average is $23.23. The stock has a market capitalization of $8.23 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.51 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The company had revenue of $634.50 million for the quarter, compared to analyst estimates of $630.10 million. During the same period in the previous year, the firm earned $0.28 earnings per share. Dropbox’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts forecast that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DBX. UBS Group cut their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Citigroup cut their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in Dropbox by 63.0% during the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after acquiring an additional 2,881,981 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 in the last quarter. AQR Capital Management LLC raised its position in Dropbox by 39.7% during the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after acquiring an additional 859,233 shares in the last quarter. Russell Investments Group Ltd. raised its position in Dropbox by 68.2% during the first quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock valued at $47,397,000 after acquiring an additional 790,191 shares in the last quarter. Finally, Norges Bank acquired a new stake in Dropbox in the fourth quarter valued at approximately $19,361,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.