Dropbox (NASDAQ:DBX) CEO Sells $834,130.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 30,332 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.50, for a total transaction of $834,130.00. The sale was disclosed in a document filed with the SEC, which is accessible through 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 transaction 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 Trading Up 0.7%

Shares of DBX opened at $27.43 on Friday. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40. The firm has a fifty day simple moving average of $24.63 and a 200 day simple moving average of $26.39. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 3.07 and a beta of 0.64.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on DBX. JPMorgan Chase & Co. reduced their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. UBS Group dropped their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. Citigroup upped their price target on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Royal Bank Of Canada upped their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $27.00.

Institutional Trading of Dropbox

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Dropbox by 68.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock valued at $47,000 after purchasing an additional 831 shares during the period. California State Teachers Retirement System raised its position in shares of Dropbox by 18.4% in the first quarter. California State Teachers Retirement System now owns 206,493 shares of the company’s stock valued at $4,692,000 after purchasing an additional 32,041 shares during the period. Empowered Funds LLC raised its position in shares of Dropbox by 12.9% in the first quarter. Empowered Funds LLC now owns 116,220 shares of the company’s stock valued at $2,641,000 after purchasing an additional 13,244 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in shares of Dropbox in the first quarter valued at about $266,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Dropbox by 12.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after purchasing an additional 960,109 shares during the period. 94.84% of the stock is owned by institutional investors.

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.