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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 3,493 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $1,836,800.00.

Dropbox Stock Up 0.4 %

NASDAQ:DBX traded up $0.09 on Monday, hitting $24.79. The stock had a trading volume of 1,836,072 shares, compared to its average volume of 3,899,531. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.51 and a beta of 0.61. The company has a fifty day moving average price of $23.58 and a two-hundred day moving average price of $23.22. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. 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. Two research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $28.67.

Hedge Funds Weigh In On Dropbox

Several large investors have recently made changes to their positions in DBX. Principal Securities Inc. acquired a new position in shares of Dropbox in the 4th quarter worth approximately $34,000. Dimensional Fund Advisors LP lifted its holdings in shares of Dropbox by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,518,959 shares of the company’s stock worth $44,782,000 after acquiring an additional 28,393 shares during the last quarter. Norges Bank acquired a new position in shares of Dropbox in the 4th quarter worth approximately $19,361,000. UBS Group AG lifted its holdings in Dropbox by 19.3% during the 4th quarter. UBS Group AG now owns 1,489,863 shares of the company’s stock worth $43,921,000 after buying an additional 241,322 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Dropbox during the 4th quarter worth approximately $198,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.