Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CEO Andrew Houston sold 82,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $185,173,318.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Andrew Houston also recently made the following trade(s):
- On Monday, June 3rd, Andrew Houston sold 82,000 shares of Dropbox stock. The shares were sold at an average price of $22.40, for a total transaction of $1,836,800.00.
- On Wednesday, May 1st, Andrew Houston sold 82,000 shares of Dropbox stock. The shares were sold at an average price of $23.44, for a total transaction of $1,922,080.00.
Dropbox Stock Up 0.1 %
Shares of Dropbox stock opened at $22.63 on Friday. The stock has a market capitalization of $7.47 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.57 and a beta of 0.65. The company has a 50-day simple moving average of $22.61 and a 200 day simple moving average of $25.65. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.
Institutional Investors Weigh In On Dropbox
A number of hedge funds have recently made changes to their positions in DBX. Stratos Wealth Partners LTD. grew its holdings in Dropbox by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after acquiring an additional 415 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in Dropbox by 6.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after acquiring an additional 417 shares during the last quarter. Parallel Advisors LLC grew its holdings in Dropbox by 7.4% during the 4th quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after acquiring an additional 459 shares during the last quarter. Cooper Financial Group grew its holdings in Dropbox by 3.1% during the 1st quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock worth $379,000 after acquiring an additional 462 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Dropbox by 0.7% during the 4th quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock worth $2,103,000 after acquiring an additional 524 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Citigroup dropped their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.56.
View Our Latest Stock Analysis on DBX
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.
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