Dropbox (NASDAQ:DBX) Stock: Insider Andrew Houston Sells 383,800 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 383,800 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $35.81, for a total value of $13,743,878.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 12th, Andrew Houston sold 29,500 shares of Dropbox stock. The stock was sold at an average price of $35.09, for a total value of $1,035,155.00.
• On Thursday, October 1st, Andrew Houston sold 354,300 shares of Dropbox stock. The stock was sold at an average price of $34.01, for a total transaction of $12,049,743.00.
• On Thursday, September 10th, Andrew Houston sold 383,800 shares of Dropbox stock. The shares were sold at an average price of $35.02, for a total transaction of $13,440,676.00.

Dropbox Stock Up 3.3%

Shares of Dropbox stock traded up $1.17 during trading on Wednesday, reaching $36.13. The company’s stock had a trading volume of 3,395,237 shares, compared to its average volume of 3,940,182. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $38.22. The firm’s 50-day moving average is $35.27 and its two-hundred day moving average is $29.11. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 3.52 and a beta of 0.62.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The business had revenue of $631.50 million during the quarter, compared to the consensus estimate of $626.69 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.94 EPS for the current year.

Institutional Investors Weigh In On Dropbox

Institutional investors and hedge funds have recently modified their holdings of the stock. Fulcrum Asset Management LLP increased its position in shares of Dropbox by 2,431.8% during the third quarter. Fulcrum Asset Management LLP now owns 18,254 shares of the company’s stock valued at $597,000 after buying an additional 17,533 shares during the period. Ethic Inc. purchased a new stake in Dropbox in the third quarter worth about $211,000. Inscription Capital LLC bought a new stake in Dropbox during the 3rd quarter valued at approximately $229,000. Chicago Partners Investment Group LLC boosted its position in Dropbox by 8.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 19,625 shares of the company’s stock valued at $742,000 after acquiring an additional 1,563 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Dropbox in the 3rd quarter worth approximately $1,933,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DBX has been the topic of several recent research reports. Stephens initiated coverage on Dropbox in a research report on Tuesday. They set an “equal weight” rating and a $39.00 price target on the stock. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup cut shares of Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the stock from $33.00 to $29.00 in a report on Thursday, September 24th. Zacks Research upgraded shares of Dropbox from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Dropbox in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $31.60.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.

The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.