Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 132,000 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 132,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $232,458,647.92. The trade was a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, October 1st, Andrew Houston sold 351,306 shares of Dropbox stock. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72.
• On Thursday, September 26th, Andrew Houston sold 28,012 shares of Dropbox stock. The shares were sold at an average price of $25.01, for a total transaction 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 transaction of $1,651,600.00.
• On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00.

Dropbox Stock Up 1.1 %

NASDAQ:DBX opened at $29.06 on Friday. The firm’s fifty day simple moving average is $26.79 and its 200-day simple moving average is $24.34. The stock has a market cap of $9.00 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.63. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Analyst Ratings Changes

Separately, UBS Group reduced their price objective on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its position in Dropbox by 51.5% during the first quarter. Tidal Investments LLC now owns 12,804 shares of the company’s stock worth $311,000 after purchasing an additional 4,350 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after buying an additional 907 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Dropbox by 36.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,030 shares of the company’s stock valued at $158,000 after acquiring an additional 1,873 shares during the last quarter. CWM LLC increased its holdings in Dropbox by 137.6% during the 2nd quarter. CWM LLC now owns 49,223 shares of the company’s stock valued at $1,106,000 after acquiring an additional 28,505 shares in the last quarter. Finally, Clarius Group LLC purchased a new position in Dropbox during the 2nd quarter valued at about $204,000. 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.