Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 109,498 Shares

by · The Markets Daily

Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CEO Andrew Houston sold 109,498 shares of Dropbox stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $24.94, for a total value of $2,730,880.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Monday, February 2nd, Andrew Houston sold 164,502 shares of Dropbox stock. The stock was sold at an average price of $25.66, for a total value of $4,221,121.32.
  • On Monday, January 12th, Andrew Houston sold 23,818 shares of Dropbox stock. The shares were sold at an average price of $27.51, for a total transaction of $655,233.18.
  • On Friday, January 9th, Andrew Houston sold 36,182 shares of Dropbox stock. The stock was sold at an average price of $27.54, for a total transaction of $996,452.28.
  • On Friday, January 2nd, Andrew Houston sold 92,668 shares of Dropbox stock. The stock was sold at an average price of $26.91, for a total transaction of $2,493,695.88.

Dropbox Price Performance

NASDAQ DBX remained flat at $26.17 on Wednesday. 2,905,643 shares of the company’s stock were exchanged, compared to its average volume of 4,377,689. The stock has a market cap of $6.31 billion, a PE ratio of 14.07, a PEG ratio of 1.76 and a beta of 0.63. Dropbox, Inc. has a one year low of $23.63 and a one year high of $32.40. The stock’s 50 day moving average is $25.98 and its 200 day moving average is $28.25.

Dropbox (NASDAQ:DBX – Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $636.20 million during the quarter, compared to analyst estimates of $627.83 million. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. Equities research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. UBS Group lowered their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada reduced their price objective on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.50.

Read Our Latest Stock Report on Dropbox

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. WealthCollab LLC raised its holdings in shares of Dropbox by 20.6% in the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after buying an additional 403 shares during the period. Parallel Advisors LLC grew its position in Dropbox by 8.3% in the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after acquiring an additional 440 shares during the last quarter. Lakewood Asset Management LLC grew its position in Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after acquiring an additional 458 shares during the last quarter. Kera Capital Partners Inc. increased its stake in Dropbox by 3.7% in the third quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after purchasing an additional 460 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Dropbox by 5.7% during the second quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock worth $246,000 after purchasing an additional 461 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

About Dropbox

(Get Free Report)

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.

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