Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 45,835 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 45,835 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $30.04, for a total transaction of $1,376,883.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Thursday, August 14th, Andrew Houston sold 92,000 shares of Dropbox stock. The shares were sold at an average price of $27.83, for a total value of $2,560,360.00.
• On Tuesday, July 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was sold at an average price of $27.96, for a total value of $2,572,320.00.

Dropbox Stock Performance

DBX opened at $30.71 on Thursday. The company’s 50-day simple moving average is $27.93 and its two-hundred day simple moving average is $27.77. The stock has a market capitalization of $8.29 billion, a P/E ratio of 18.73, a P/E/G ratio of 4.13 and a beta of 0.70. Dropbox, Inc. has a 52-week low of $23.33 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm had revenue of $625.70 million during the quarter, compared to analysts’ expectations of $618.60 million. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Dropbox

Several large investors have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. purchased a new stake in shares of Dropbox in the fourth quarter worth $9,189,000. Focus Partners Wealth purchased a new stake in Dropbox in the 4th quarter worth $219,000. Gotham Asset Management LLC increased its stake in Dropbox by 5.1% in the 4th quarter. Gotham Asset Management LLC now owns 265,927 shares of the company’s stock worth $7,988,000 after buying an additional 12,814 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Dropbox by 3.0% during the fourth quarter. Janus Henderson Group PLC now owns 267,014 shares of the company’s stock valued at $8,022,000 after acquiring an additional 7,662 shares during the period. Finally, Mubadala Investment Co PJSC purchased a new position in shares of Dropbox in the fourth quarter valued at about $2,456,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on Dropbox from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.33.

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.