Andrew Houston Sells 351,306 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 351,306 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $207,658,649.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, September 26th, Andrew Houston sold 28,012 shares of Dropbox stock. The stock was sold at an average price of $25.01, for a total value of $700,580.12.
• On Tuesday, September 24th, Andrew Houston sold 66,064 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value 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 0.6 %

Shares of NASDAQ DBX opened at $25.37 on Friday. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.55 and a beta of 0.61. The stock’s fifty day simple moving average is $23.93 and its 200 day simple moving average is $23.31. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43.

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 business had revenue of $634.50 million for the quarter, compared to analysts’ expectations of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. As a group, analysts anticipate that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on DBX. Citigroup cut their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two 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. According to data from MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and a consensus target price of $28.67.

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently modified their holdings of the business. Sound Income Strategies LLC acquired a new stake in shares of Dropbox in the first quarter worth $28,000. GAMMA Investing LLC boosted its position in Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after purchasing an additional 907 shares during the last quarter. Fifth Third Bancorp boosted its position in Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after purchasing an additional 1,169 shares during the last quarter. Quarry LP boosted its position in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Dropbox during the first quarter valued at $65,000. Institutional investors and hedge funds 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.