Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 92,000 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 92,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, November 14th, Andrew Houston sold 101,167 shares of Dropbox stock. The stock was 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 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 shares were sold at an average price of $30.04, for a total transaction of $1,376,883.40.

Dropbox Stock Performance

Shares of Dropbox stock traded up $0.23 during trading hours on Wednesday, reaching $29.94. The company’s stock had a trading volume of 2,795,484 shares, compared to its average volume of 3,627,146. The company has a market capitalization of $7.75 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.51 and a beta of 0.63. The stock’s fifty day simple moving average is $29.59 and its two-hundred day simple moving average is $28.89. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its earnings results 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 company 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 firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently added to or reduced their stakes in the business. SGL Investment Advisors Inc. increased its stake in shares of Dropbox by 2.4% in the second quarter. SGL Investment Advisors Inc. now owns 16,143 shares of the company’s stock worth $442,000 after purchasing an additional 375 shares in the last quarter. Kera Capital Partners Inc. boosted its holdings in Dropbox by 3.7% in the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after buying an additional 460 shares during the period. PNC Financial Services Group Inc. grew its stake in 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 buying an additional 461 shares in the last quarter. Elequin Capital LP raised its holdings in Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after acquiring an additional 469 shares during the period. Finally, Merit Financial Group LLC lifted its position in shares of Dropbox by 4.4% during the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after acquiring an additional 480 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DBX. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Royal Bank Of Canada lifted their price objective on shares of Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.75.

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.