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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 30,332 shares of the business’s 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 filing with the Securities & Exchange Commission, which is available at 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 Thursday, May 14th, Andrew Houston sold 37,498 shares of Dropbox stock. The stock was 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 stock was sold at an average price of $22.89, for a total transaction of $2,544,589.74.
• On Monday, March 2nd, Andrew Houston sold 109,498 shares of Dropbox stock. The stock was sold at an average price of $24.94, for a total transaction of $2,730,880.12.

Dropbox Stock Down 1.1%

Shares of NASDAQ:DBX opened at $27.25 on Friday. The company has a market cap of $6.36 billion, a PE ratio of 14.89, a P/E/G ratio of 3.11 and a beta of 0.64. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $32.40. The firm has a 50-day simple moving average of $24.60 and a 200 day simple moving average of $26.38.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on 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 dropped their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Finally, Citigroup lifted their price target on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Dropbox currently has an average rating of “Reduce” and an average price target of $27.00.

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently bought and sold shares of DBX. WealthCollab LLC raised its holdings in shares of Dropbox by 20.6% in the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after purchasing an additional 403 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Dropbox by 8.3% in the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock worth $160,000 after acquiring an additional 440 shares during the last quarter. Lakewood Asset Management LLC increased its stake in Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after purchasing an additional 458 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Dropbox by 1.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock worth $730,000 after acquiring an additional 466 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Dropbox by 4.4% in the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock valued at $344,000 after purchasing an additional 480 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

About Dropbox

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.