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 firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $206,666,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value 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 Price Performance

Shares of NASDAQ:DBX opened at $25.31 on Friday. The business’s 50-day moving average is $23.72 and its 200 day moving average is $23.26. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The firm has a market capitalization of $8.36 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.55 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued 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. The company had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. On average, analysts expect that Dropbox, Inc. will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Dropbox

A number of large investors have recently bought and sold shares of DBX. Parallel Advisors LLC lifted its stake in Dropbox by 7.4% during the 4th quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock valued at $196,000 after acquiring an additional 459 shares during the period. Cooper Financial Group lifted its position in Dropbox by 3.1% during the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after purchasing an additional 462 shares during the period. iA Global Asset Management Inc. grew its position in Dropbox by 6.5% during the 2nd quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock worth $219,000 after purchasing an additional 597 shares during the period. Tobam raised its stake in shares of Dropbox by 4.1% during the 2nd quarter. Tobam now owns 19,642 shares of the company’s stock valued at $441,000 after buying an additional 767 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Dropbox by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 321,699 shares of the company’s stock valued at $7,817,000 after buying an additional 845 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DBX. Citigroup lowered 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 dropped their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two research 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, the company presently has a consensus rating of “Hold” and a consensus price target of $28.67.

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.