Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 92,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 92,000 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $27.96, for a total value of $2,572,320.00. Following the completion of the transaction, the chief executive officer directly owned 8,266,666 shares in the company, valued at $231,135,981.36. This represents a 1.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, June 11th, Andrew Houston sold 319,000 shares of Dropbox stock. The stock was sold at an average price of $28.48, for a total value of $9,085,120.00.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $27.95 on Friday. The firm has a 50 day simple moving average of $28.76 and a 200 day simple moving average of $28.80. Dropbox, Inc. has a 52 week low of $21.32 and a 52 week high of $33.33. The company has a market cap of $7.87 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 10.84 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. On average, equities analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DBX shares. UBS Group boosted their target price on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Citigroup lifted their price target on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after buying an additional 424 shares during the period. Elequin Capital LP grew its holdings in shares of Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after acquiring an additional 469 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Dropbox by 191.0% in the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock worth $31,000 after acquiring an additional 680 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Dropbox by 250.3% in the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock worth $37,000 after acquiring an additional 991 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Dropbox during the fourth quarter worth $40,000. 94.84% of the stock is 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.