Dropbox (NASDAQ:DBX) CEO Sells $2,716,760.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 92,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $29.53, for a total value of $2,716,760.00. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• 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.
• On Wednesday, October 1st, Andrew Houston sold 101,167 shares of Dropbox stock. The stock was sold at an average price of $29.64, for a total value of $2,998,589.88.
• On Monday, September 8th, Andrew Houston sold 45,835 shares of Dropbox stock. The shares were sold at an average price of $30.04, for a total transaction of $1,376,883.40.

Dropbox Stock Performance

Shares of DBX stock traded up $0.23 on Wednesday, hitting $29.94. The company’s stock had a trading volume of 2,795,484 shares, compared to its average volume of 3,627,146. Dropbox, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $33.33. The company has a market capitalization of $7.75 billion, a PE ratio of 16.92, a PEG ratio of 2.51 and a beta of 0.63. The stock’s 50 day moving average is $29.59 and its 200-day moving average is $28.89.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The firm had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.59 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on DBX. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.75.

Hedge Funds Weigh In On Dropbox

A number of institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management grew its stake in shares of Dropbox by 38.1% in the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after purchasing an additional 3,205,140 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Dropbox by 1.9% during the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock worth $228,202,000 after buying an additional 157,148 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Dropbox by 2.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 6,806,508 shares of the company’s stock valued at $205,625,000 after buying an additional 144,347 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Dropbox by 1.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after buying an additional 70,867 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Dropbox by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company’s stock worth $78,802,000 after acquiring an additional 36,268 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.