Insider Selling: Dropbox (NASDAQ:DBX) CEO Sells 23,818 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 23,818 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $27.51, for a total value of $655,233.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, January 9th, Andrew Houston sold 36,182 shares of Dropbox stock. The stock was sold at an average price of $27.54, for a total value of $996,452.28.
• On Friday, January 2nd, Andrew Houston sold 92,668 shares of Dropbox stock. The shares were sold at an average price of $26.91, for a total transaction of $2,493,695.88.
• On Wednesday, December 3rd, Andrew Houston sold 9,167 shares of Dropbox stock. The stock was sold at an average price of $30.00, for a total transaction of $275,010.00.
• On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The shares were sold at an average price of $29.53, for a total transaction 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 value of $3,058,278.41.

Dropbox Stock Down 2.1%

NASDAQ DBX traded down $0.58 during trading hours on Tuesday, hitting $26.75. The company had a trading volume of 4,421,063 shares, compared to its average volume of 3,398,451. Dropbox, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $33.33. The business has a fifty day simple moving average of $28.81 and a 200-day simple moving average of $28.76. The firm has a market cap of $6.92 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 2.23 and a beta of 0.62.

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

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently bought and sold shares of the business. LSV Asset Management boosted its position in shares of Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after purchasing an additional 3,205,140 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Dropbox in the 2nd quarter worth approximately $56,911,000. Norges Bank acquired a new stake in shares of Dropbox during the 2nd quarter valued at $51,307,000. Allianz Asset Management GmbH lifted its holdings in shares of Dropbox by 47.8% during the third quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock valued at $64,164,000 after purchasing an additional 686,577 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Dropbox by 10.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock worth $190,538,000 after buying an additional 605,258 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DBX. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. UBS Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Royal Bank Of Canada lowered their price objective on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.33.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.