Dropbox, Inc. (NASDAQ:DBX) CEO Sells $87,325.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 3,493 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $87,325.00. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $206,666,650. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, July 1st, Andrew Houston sold 82,000 shares of Dropbox stock. The stock was sold at an average price of $22.40, for a total value of $1,836,800.00.

Dropbox Trading Up 0.6 %

Shares of Dropbox stock opened at $24.93 on Wednesday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The company’s fifty day simple moving average is $23.66 and its 200-day simple moving average is $23.23. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.51 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company had revenue of $634.50 million for the quarter, compared to analyst estimates of $630.10 million. During the same period last year, the business posted $0.28 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts forecast that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on DBX shares. UBS Group dropped their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Citigroup dropped their target price 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.67.

Hedge Funds Weigh In On Dropbox

Several large investors have recently added to or reduced their stakes in DBX. Sound Income Strategies LLC acquired a new stake in shares of Dropbox during the 1st quarter worth approximately $28,000. GAMMA Investing LLC lifted its position in Dropbox by 274.0% in the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares during the period. Fifth Third Bancorp boosted its stake in Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares in the last quarter. Principal Securities Inc. bought a new stake in Dropbox in the 4th quarter valued at $34,000. Finally, Quarry LP raised its stake in shares of Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after buying an additional 880 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.