Dropbox, Inc. (NASDAQ:DBX) CEO Sells $1,651,600.00 in Stock

by · The Markets Daily

Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CEO Andrew Houston sold 66,064 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total value of $1,651,600.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value of $87,325.00.
  • 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 Price Performance

Shares of NASDAQ DBX opened at $25.31 on Friday. The business’s 50 day moving average is $23.77 and its two-hundred day moving average is $23.27. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The stock has a market capitalization of $8.36 billion, a P/E ratio of 16.76, a PEG ratio of 1.55 and a beta of 0.61.

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

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently modified their holdings of the business. Sound Income Strategies LLC purchased a new stake in shares of Dropbox in the first quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 907 shares during the period. Fifth Third Bancorp raised its holdings in shares of Dropbox by 548.8% in 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 during the period. Quarry LP raised its holdings in shares of Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after buying an additional 880 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Dropbox in the first quarter worth approximately $65,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DBX has been the topic of several analyst reports. UBS Group reduced their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Citigroup reduced their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox presently has an average rating of “Hold” and an average target price of $28.67.

View Our Latest Analysis on Dropbox

Dropbox Company Profile

(Get Free Report)

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.

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