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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 109,498 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, February 2nd, Andrew Houston sold 164,502 shares of Dropbox stock. The shares were 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 value of $996,452.28.
• On Friday, January 2nd, Andrew Houston sold 92,668 shares of Dropbox stock. The shares were sold at an average price of $26.91, for a total transaction of $2,493,695.88.

Dropbox Stock Performance

Dropbox stock opened at $26.17 on Thursday. Dropbox, Inc. has a 1-year low of $23.63 and a 1-year high of $32.40. The firm’s fifty day simple moving average is $25.94 and its 200-day simple moving average is $28.24. The company has a market capitalization of $6.31 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.85 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The firm had revenue of $636.20 million for the quarter, compared to the consensus estimate of $627.83 million. During the same period in the prior year, the business posted $0.73 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

Hedge funds have recently made changes to their positions in the business. Rossby Financial LCC boosted its position in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after acquiring an additional 527 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Dropbox in the 3rd quarter worth approximately $30,000. First Horizon Corp bought a new position in shares of Dropbox during the 3rd quarter worth approximately $31,000. Neo Ivy Capital Management acquired a new stake in Dropbox in the 2nd quarter valued at $30,000. Finally, Kestra Advisory Services LLC bought a new stake in Dropbox in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Royal Bank Of Canada cut their target price on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. JPMorgan Chase & Co. lowered their price target on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. UBS Group dropped their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen lowered shares of 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, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.50.

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.