Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 80,499 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 80,499 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, January 6th, Andrew Houston sold 29,917 shares of Dropbox stock. The shares were sold at an average price of $30.07, for a total value of $899,604.19.
• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95.
• On Wednesday, December 11th, Andrew Houston sold 137,499 shares of Dropbox stock. The shares were sold at an average price of $30.05, for a total value 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 Stock Performance

Shares of DBX stock opened at $31.12 on Friday. The stock’s 50 day simple moving average is $29.37 and its 200 day simple moving average is $26.21. 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 $9.64 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.58 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. The firm had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. During the same period in the prior year, the business earned $0.35 EPS. On average, analysts forecast that Dropbox, Inc. will post 1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their target price on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Dropbox has an average rating of “Hold” and a consensus target price of $27.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Dropbox by 63.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock worth $56,994,000 after buying an additional 986,942 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Dropbox by 38.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,841 shares of the company’s stock worth $648,000 after acquiring an additional 7,943 shares during the period. Hsbc Holdings PLC raised its stake in Dropbox by 4.5% during the 2nd quarter. Hsbc Holdings PLC now owns 240,185 shares of the company’s stock valued at $5,348,000 after purchasing an additional 10,385 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Dropbox by 18.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 287,300 shares of the company’s stock valued at $6,456,000 after purchasing an additional 44,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Dropbox in the 2nd quarter valued at $4,081,000. Institutional investors own 94.84% of the company’s stock.

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.