Dropbox, Inc. (NASDAQ:DBX) CEO Sells $14,834,576.95 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 500,323 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $245,106,646.90. This represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $30.07, for a total transaction of $899,604.19.
• On Wednesday, December 11th, Andrew Houston sold 137,499 shares of Dropbox stock. The stock was sold at an average price of $30.05, for a total transaction of $4,131,844.95.
• On Monday, December 2nd, Andrew Houston sold 132,000 shares of Dropbox stock. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00.

Dropbox Trading Up 0.5 %

Shares of NASDAQ:DBX opened at $29.74 on Thursday. The firm has a 50 day simple moving average of $28.66 and a 200-day simple moving average of $25.63. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The company has a market capitalization of $9.21 billion, a PE ratio of 17.19, a P/E/G ratio of 1.68 and a beta of 0.61.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised their price objective on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and an average target price of $28.86.

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently bought and sold shares of DBX. QRG Capital Management Inc. grew its holdings in shares of Dropbox by 10.6% during the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after purchasing an additional 21,190 shares during the last quarter. Aigen Investment Management LP purchased a new position in Dropbox during the 3rd quarter worth approximately $482,000. Retirement Systems of Alabama increased its position in Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after buying an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after acquiring an additional 134,503 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.