Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 30,332 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 30,332 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.50, for a total value of $834,130.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 14th, Andrew Houston sold 37,498 shares of Dropbox stock. The shares were sold at an average price of $25.96, for a total value of $973,448.08.
• On Wednesday, April 1st, Andrew Houston sold 111,166 shares of Dropbox stock. The shares were sold at an average price of $22.89, for a total value of $2,544,589.74.
• On Monday, March 2nd, Andrew Houston sold 109,498 shares of Dropbox stock. The shares were sold at an average price of $24.94, for a total value of $2,730,880.12.

Dropbox Trading Up 0.1%

Shares of NASDAQ DBX opened at $27.56 on Thursday. The firm has a market cap of $6.43 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 3.10 and a beta of 0.64. The business’s 50 day moving average is $24.58 and its 200-day moving average is $26.40. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.70 EPS. Analysts forecast that Dropbox, Inc. will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management grew its holdings in shares of Dropbox by 38.1% in the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after acquiring an additional 3,205,140 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Dropbox by 117.3% in the third quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock valued at $12,324,000 after acquiring an additional 220,176 shares in the last quarter. Arbejdsmarkedets Tillaegspension bought a new position in shares of Dropbox in the fourth quarter valued at approximately $22,050,000. Nisa Investment Advisors LLC grew its holdings in shares of Dropbox by 57.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock valued at $6,219,000 after acquiring an additional 82,053 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in shares of Dropbox by 3,963.5% in the third quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company’s stock valued at $9,452,000 after acquiring an additional 305,192 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DBX. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. William Blair reissued an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Royal Bank Of Canada raised their price target on shares of Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Citigroup upped their price target on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Dropbox has an average rating of “Reduce” and an average price target of $27.00.

Key Stories Impacting Dropbox

Here are the key news stories impacting Dropbox this week:

• Positive Sentiment: Dropbox’s latest quarterly results beat expectations on both earnings and revenue, reinforcing that the company is still producing steady profitability despite modest top-line growth.
• Positive Sentiment: Analysts have turned somewhat more upbeat, with Royal Bank of Canada raising its price target to $32 and Wall Street Zen upgrading the stock to buy, helping support sentiment around DBX.
• Neutral Sentiment: Several insiders, including CEO Andrew Houston, a director, CTO, and CAO, sold shares under pre-arranged 10b5-1 plans; some of the sales were tied to tax withholding on equity vesting, so the activity is not necessarily a negative fundamental signal. Article Title
• Neutral Sentiment: DBX is trading around the middle of its 52-week range, suggesting investors are balancing improving earnings execution against slower revenue growth and mixed analyst ratings. Article Title

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.