Dropbox (NASDAQ:DBX) CEO Sells $4,221,121.32 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 164,502 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $25.66, for a total value of $4,221,121.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, January 12th, Andrew Houston sold 23,818 shares of Dropbox stock. The stock was 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 shares were 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.
• On Wednesday, December 3rd, Andrew Houston sold 9,167 shares of Dropbox stock. The shares were sold at an average price of $30.00, for a total value of $275,010.00.
• On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was sold at an average price of $29.53, for a total transaction of $2,716,760.00.
• On Friday, November 14th, Andrew Houston sold 101,167 shares of Dropbox stock. The stock was sold at an average price of $30.23, for a total transaction of $3,058,278.41.

Dropbox Trading Up 2.3%

NASDAQ DBX opened at $25.00 on Friday. Dropbox, Inc. has a 1-year low of $24.41 and a 1-year high of $33.27. The company has a 50 day moving average of $27.33 and a 200-day moving average of $28.54. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.00 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The business had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.Dropbox’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. On average, analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Dropbox currently has a consensus rating of “Hold” and a consensus price target of $31.33.

Institutional Trading of Dropbox

Several institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management grew its stake in shares of Dropbox by 38.1% during the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after purchasing an additional 3,205,140 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Dropbox during the second quarter worth about $56,911,000. Norges Bank acquired a new position in shares of Dropbox during the 2nd quarter worth about $51,307,000. Arbejdsmarkedets Tillaegspension bought a new stake in shares of Dropbox in the 4th quarter valued at about $22,050,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Dropbox by 47.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock valued at $64,164,000 after acquiring an additional 686,577 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

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.