Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 9,167 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 9,167 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $30.00, for a total value of $275,010.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction of $3,058,278.41.
• On Wednesday, October 1st, Andrew Houston sold 101,167 shares of Dropbox stock. The shares were sold at an average price of $29.64, for a total transaction of $2,998,589.88.
• On Monday, September 8th, Andrew Houston sold 45,835 shares of Dropbox stock. The stock was sold at an average price of $30.04, for a total transaction of $1,376,883.40.

Dropbox Trading Down 1.5%

NASDAQ:DBX opened at $29.34 on Friday. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The company has a market cap of $7.59 billion, a PE ratio of 16.58, a P/E/G ratio of 2.55 and a beta of 0.63. The company’s 50 day moving average is $29.49 and its two-hundred day moving average is $28.90.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 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 during the quarter, compared to the consensus estimate of $623.59 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DBX. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Royal Bank Of Canada raised their price target on shares of Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report 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 research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.75.

Institutional Trading of Dropbox

A number of hedge funds have recently modified their holdings of DBX. SGL Investment Advisors Inc. raised its holdings in Dropbox by 2.4% in the second quarter. SGL Investment Advisors Inc. now owns 16,143 shares of the company’s stock valued at $442,000 after acquiring an additional 375 shares in the last quarter. Kera Capital Partners Inc. grew its holdings in Dropbox by 3.7% during the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after acquiring an additional 460 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Dropbox by 5.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock valued at $246,000 after purchasing an additional 461 shares during the last quarter. Elequin Capital LP raised its holdings in shares of Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after purchasing an additional 469 shares in the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Dropbox by 4.4% during the 3rd quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after purchasing an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.