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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 80,499 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 value of $899,604.19.
• 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 stock was 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 shares were sold at an average price of $28.12, for a total value of $3,711,840.00.

Dropbox Stock Down 0.2 %

Shares of Dropbox stock opened at $31.12 on Friday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a market capitalization of $9.64 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61. The stock’s fifty day moving average is $29.37 and its 200-day moving average is $26.21.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.16). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The company had revenue of $638.80 million for the quarter, compared to analyst estimates of $636.93 million. During the same quarter in the previous year, the firm posted $0.35 EPS. Analysts expect that Dropbox, Inc. will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Dropbox

Several hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Dropbox during the 3rd quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in shares of Dropbox during the third quarter valued at $31,000. Quarry LP raised its position in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after buying an additional 880 shares during the period. UMB Bank n.a. lifted its stake in Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,686 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Dropbox by 35.6% during the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after acquiring an additional 472 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.