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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 66,064 shares of Dropbox stock in a transaction on 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 directly owns 8,266,666 shares of the company’s stock, valued at approximately $206,666,650. The transaction was disclosed in a document filed with the SEC, 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 Stock Performance

NASDAQ:DBX opened at $25.31 on Friday. The stock has a 50-day simple moving average of $23.77 and a two-hundred day simple moving average of $23.27. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The firm has a market capitalization of $8.36 billion, a PE ratio of 16.76, a P/E/G ratio of 1.55 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating 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 business had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. Dropbox’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on DBX. UBS Group cut their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup cut their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.67.

Institutional Trading of Dropbox

Hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC purchased a new position in shares of Dropbox in the first quarter valued at about $28,000. GAMMA Investing LLC lifted its position in shares of Dropbox by 274.0% in the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after acquiring an additional 907 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Dropbox by 548.8% in the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after acquiring an additional 1,169 shares in the last quarter. Quarry LP lifted its position 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 in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Dropbox in the first quarter worth about $65,000. 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.