Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 82,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $193,770,651.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, March 5th, Andrew Houston sold 164,000 shares of Dropbox stock. The stock was sold at an average price of $23.86, for a total transaction of $3,913,040.00.

Dropbox Trading Down 0.9 %

Shares of DBX stock opened at $23.37 on Friday. The stock has a market capitalization of $8.04 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.65 and a beta of 0.70. Dropbox, Inc. has a 12-month low of $19.55 and a 12-month high of $33.43. The firm’s 50 day moving average is $23.76 and its 200 day moving average is $27.15.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $635.00 million during the quarter, compared to the consensus estimate of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. As a group, equities analysts predict that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

Several institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its position in Dropbox by 65.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock valued at $64,825,000 after purchasing an additional 869,043 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Dropbox by 5.6% during the 3rd quarter. Nordea Investment Management AB now owns 2,146,895 shares of the company’s stock valued at $59,050,000 after buying an additional 113,947 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Dropbox by 5.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock worth $120,327,000 after acquiring an additional 227,633 shares in the last quarter. Pzena Investment Management LLC bought a new stake in Dropbox during the 3rd quarter worth approximately $463,000. Finally, Trexquant Investment LP bought a new stake in Dropbox during the 3rd quarter worth approximately $6,898,000. Institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JMP Securities downgraded Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $34.00 to $28.00 in a report on Friday, February 16th. JPMorgan Chase & Co. cut shares of Dropbox from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $30.00 in a research report on Friday, February 16th. KeyCorp upped their price objective on shares of Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Finally, The Goldman Sachs Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.78.

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.