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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 109,498 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $24.94, for a total value of $2,730,880.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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 stock was sold at an average price of $27.51, for a total value 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.

Dropbox Price Performance

DBX opened at $26.38 on Friday. The firm has a 50 day simple moving average of $25.91 and a 200 day simple moving average of $28.23. Dropbox, Inc. has a fifty-two week low of $23.63 and a fifty-two week high of $32.40. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping 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 net margin of 20.17% and a negative return on equity of 37.47%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS. As a group, analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Trading of Dropbox

Hedge funds have recently bought and sold shares of the stock. Rossby Financial LCC boosted its holdings in shares of Dropbox by 128.5% in the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after buying an additional 527 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Dropbox in the second quarter valued at about $30,000. Palisade Asset Management LLC acquired a new position in Dropbox during the 3rd quarter worth approximately $30,000. First Horizon Corp acquired a new position in Dropbox during the third quarter worth $31,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Dropbox during the 4th quarter worth about $31,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.