Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 23,818 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 23,818 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $27.51, for a total transaction of $655,233.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 9th, Andrew Houston sold 36,182 shares of Dropbox stock. The shares were sold at an average price of $27.54, for a total transaction of $996,452.28.
• On Friday, January 2nd, Andrew Houston sold 92,668 shares of Dropbox stock. The stock was sold at an average price of $26.91, for a total value of $2,493,695.88.
• On Wednesday, December 3rd, Andrew Houston sold 9,167 shares of Dropbox stock. The shares were sold at an average price of $30.00, for a total value of $275,010.00.
• On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was sold at an average price of $29.53, for a total value of $2,716,760.00.
• On Friday, November 14th, Andrew Houston sold 101,167 shares of Dropbox stock. The shares were sold at an average price of $30.23, for a total value of $3,058,278.41.

Dropbox Trading Down 2.1%

Shares of NASDAQ DBX traded down $0.58 on Tuesday, reaching $26.75. 4,421,063 shares of the company traded hands, compared to its average volume of 3,398,451. The stock has a market capitalization of $6.92 billion, a PE ratio of 15.11, a P/E/G ratio of 2.23 and a beta of 0.62. Dropbox, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $33.33. The company has a 50 day moving average of $28.81 and a 200 day moving average of $28.76.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The business had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $623.59 million. During the same period last year, the company earned $0.60 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On Dropbox

Several institutional investors and hedge funds have recently modified their holdings of DBX. Y Intercept Hong Kong Ltd acquired a new position in shares of Dropbox in the 2nd quarter valued at approximately $1,404,000. Kestra Investment Management LLC bought a new stake in shares of Dropbox in the second quarter worth $682,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Dropbox by 11.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 48,224 shares of the company’s stock worth $1,350,000 after buying an additional 5,136 shares during the last quarter. CenterBook Partners LP acquired a new stake in Dropbox in the second quarter valued at $2,368,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Dropbox by 10.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock valued at $190,538,000 after acquiring an additional 605,258 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

DBX has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Royal Bank Of Canada reduced their price objective on Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, UBS Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and an average price target of $31.33.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.