Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 82,000 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 82,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 Stock Up 0.1 %

DBX stock opened at $22.63 on Thursday. The business’s 50-day moving average price is $22.63 and its 200-day moving average price is $25.67. The stock has a market cap of $7.47 billion, a P/E ratio of 14.99, a PEG ratio of 1.57 and a beta of 0.65. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43.

Dropbox (NASDAQ:DBX) last released its earnings results 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 analysts’ expectations of $628.81 million. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. On average, equities research analysts expect that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal year.

Institutional Trading of Dropbox

Several institutional investors and hedge funds have recently modified their holdings of the company. Stratos Wealth Partners LTD. boosted its holdings in Dropbox by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after buying an additional 415 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Dropbox by 6.1% in the third quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after acquiring an additional 417 shares during the period. Parallel Advisors LLC grew its position in shares of Dropbox by 7.4% during the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after purchasing an additional 459 shares in the last quarter. Cooper Financial Group raised its stake in Dropbox by 3.1% during the 1st quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after purchasing an additional 462 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Dropbox by 0.7% in the 4th quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock worth $2,103,000 after purchasing an additional 524 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Dropbox has an average rating of “Hold” and an average target price of $29.56.

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.