Andrew Houston Sells 28,012 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 28,012 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $25.01, for a total transaction of $700,580.12. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $206,749,316.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, September 24th, Andrew Houston sold 66,064 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total transaction of $1,651,600.00.
• 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.

Dropbox Stock Down 1.5 %

NASDAQ DBX opened at $25.05 on Wednesday. The firm’s 50 day moving average is $23.81 and its 200-day moving average is $23.27. The company has a market capitalization of $8.27 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The firm 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 business earned $0.28 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

DBX has been the subject of several research analyst reports. UBS Group reduced their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup cut their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Dropbox currently has an average rating of “Hold” and a consensus target price of $28.67.

Institutional Trading of Dropbox

Several institutional investors and hedge funds have recently bought and sold shares of DBX. Vanguard Group Inc. increased its holdings in Dropbox by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after buying an additional 105,250 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Dropbox during the 1st quarter worth about $4,900,000. Lakewood Asset Management LLC bought a new stake in shares of Dropbox in the 2nd quarter valued at about $797,000. Janus Henderson Group PLC lifted its stake in Dropbox by 16.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after purchasing an additional 228,316 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Dropbox by 224.5% during the fourth quarter. Hsbc Holdings PLC now owns 326,241 shares of the company’s stock worth $9,624,000 after purchasing an additional 225,713 shares during the period. 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.