Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells $1,836,800.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, June 3rd, Andrew Houston sold 82,000 shares of Dropbox stock. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00.
• On Wednesday, May 1st, Andrew Houston sold 82,000 shares of Dropbox stock. The shares were sold at an average price of $23.44, for a total value of $1,922,080.00.

Dropbox Price Performance

Dropbox stock opened at $22.33 on Friday. The stock’s 50 day moving average is $22.57 and its 200 day moving average is $25.60. The firm has a market cap of $7.37 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.57 and a beta of 0.65. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. Equities analysts anticipate that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Dropbox has an average rating of “Hold” and a consensus target price of $29.56.

Institutional Investors Weigh In On Dropbox

Hedge funds have recently added to or reduced their stakes in the business. LSV Asset Management increased its holdings in shares of Dropbox by 119.4% during the fourth quarter. LSV Asset Management now owns 3,305,730 shares of the company’s stock valued at $97,453,000 after acquiring an additional 1,799,030 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of 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 acquiring an additional 869,043 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Dropbox by 68.2% during the first quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock valued at $47,397,000 after acquiring an additional 790,191 shares in the last quarter. Norges Bank bought a new stake in shares of Dropbox during the fourth quarter valued at approximately $19,361,000. Finally, Bank of Nova Scotia increased its holdings in shares of Dropbox by 7,701.9% during the fourth quarter. Bank of Nova Scotia now owns 618,456 shares of the company’s stock valued at $18,231,000 after acquiring an additional 610,529 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

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.