Andrew Houston Sells 80,499 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, January 6th, Andrew Houston sold 29,917 shares of Dropbox stock. The shares were sold at an average price of $30.07, for a total value of $899,604.19.
• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95.
• On Wednesday, December 11th, Andrew Houston sold 137,499 shares of Dropbox stock. The shares were sold at an average price of $30.05, for a total value of $4,131,844.95.
• On Monday, December 2nd, Andrew Houston sold 132,000 shares of Dropbox stock. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00.

Dropbox Price Performance

Shares of Dropbox stock opened at $31.48 on Friday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The company has a market capitalization of $9.75 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.58 and a beta of 0.61. The business has a 50 day moving average price of $29.52 and a 200 day moving average price of $26.31.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.16). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The company had revenue of $638.80 million for the quarter, compared to analyst estimates of $636.93 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts expect that Dropbox, Inc. will post 1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lifted their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Dropbox presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Dropbox in the 3rd quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in Dropbox in the 3rd quarter valued at $31,000. Quarry LP raised its holdings in Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares during the last quarter. UMB Bank n.a. raised its holdings in Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,686 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Dropbox by 35.6% in the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock valued at $54,000 after acquiring an additional 472 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

About Dropbox

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.