Dropbox, Inc. (NASDAQ:DBX) CEO Sells $899,604.19 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 29,917 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $30.07, for a total transaction of $899,604.19. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $248,578,646.62. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The shares were 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 Price Performance

Shares of NASDAQ:DBX traded up $0.16 during trading on Wednesday, hitting $29.74. 2,146,146 shares of the company were exchanged, compared to its average volume of 3,156,158. The firm’s 50 day moving average price is $28.66 and its 200-day moving average price is $25.63. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The stock has a market capitalization of $9.21 billion, a P/E ratio of 17.19, a PEG ratio of 1.68 and a beta of 0.61.

Hedge Funds Weigh In On Dropbox

Several large investors have recently bought and sold shares of DBX. CWA Asset Management Group LLC purchased a new stake in Dropbox in the 4th quarter valued at $3,205,000. GAMMA Investing LLC raised its holdings in shares of Dropbox by 122.9% in the fourth quarter. GAMMA Investing LLC now owns 6,436 shares of the company’s stock valued at $193,000 after buying an additional 3,548 shares during the last quarter. DGS Capital Management LLC boosted its stake in shares of Dropbox by 22.5% during the third quarter. DGS Capital Management LLC now owns 13,767 shares of the company’s stock worth $350,000 after buying an additional 2,532 shares during the period. Retirement Systems of Alabama grew its holdings in shares of 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 last quarter. Finally, American Trust acquired a new stake in Dropbox during the 3rd quarter worth approximately $271,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.