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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total value of $1,922,080.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, March 5th, Andrew Houston sold 164,000 shares of Dropbox stock. The stock was sold at an average price of $23.86, for a total transaction of $3,913,040.00.

Dropbox Trading Down 0.9 %

Dropbox stock opened at $23.37 on Friday. The firm has a market cap of $8.04 billion, a PE ratio of 17.70, a P/E/G ratio of 2.65 and a beta of 0.70. The stock’s 50 day simple moving average is $23.76 and its two-hundred day simple moving average is $27.15. Dropbox, Inc. has a 12 month low of $19.55 and a 12 month high of $33.43.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The firm had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. On average, equities research analysts forecast that Dropbox, Inc. will post 1.14 EPS for the current year.

Hedge Funds Weigh In On Dropbox

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in Dropbox in the fourth quarter valued at approximately $25,000. Contravisory Investment Management Inc. acquired a new stake in Dropbox in the 4th quarter valued at $26,000. Sound Income Strategies LLC purchased a new position in Dropbox during the first quarter valued at $28,000. Fifth Third Bancorp grew its position in shares of Dropbox by 424.2% in the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after purchasing an additional 878 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Dropbox by 29,175.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after purchasing an additional 1,167 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DBX shares. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Friday, February 16th. Citigroup cut their price objective on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. KeyCorp lifted their target price on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. cut shares of Dropbox from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $33.00 to $30.00 in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Dropbox has a consensus rating of “Hold” and an average price target of $29.78.

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.