Andrew Houston Sells 80,499 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 80,499 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $899,604.19.
• 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 shares were 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 Stock Performance

Shares of DBX stock opened at $31.48 on Friday. The stock’s 50-day moving average is $29.52 and its two-hundred day moving average is $26.31. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.58 and a beta of 0.61. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43.

Dropbox (NASDAQ:DBX) last released 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 company had revenue of $638.80 million for the quarter, compared to analysts’ expectations of $636.93 million. During the same period in the prior year, the business earned $0.35 EPS. As a group, research analysts predict that Dropbox, Inc. will post 1.49 EPS for the current year.

Hedge Funds Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clay Northam Wealth Management LLC purchased a new position in shares of Dropbox during the fourth quarter worth about $206,000. Optas LLC purchased a new position in shares of Dropbox during the fourth quarter worth about $203,000. RHS Financial LLC purchased a new position in shares of Dropbox during the fourth quarter worth about $227,000. Strategic Advocates LLC grew its holdings in shares of Dropbox by 9.7% during the fourth quarter. Strategic Advocates LLC now owns 44,627 shares of the company’s stock worth $1,341,000 after buying an additional 3,957 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Dropbox by 23.2% during the fourth quarter. Blue Trust Inc. now owns 3,616 shares of the company’s stock worth $109,000 after buying an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their price objective on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two investment 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’s stock. According to data from MarketBeat, Dropbox presently has an average rating of “Hold” and an average price target of $27.50.

About Dropbox

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.