Insider Selling: Dropbox (NASDAQ:DBX) CEO Sells 101,167 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 101,167 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $29.64, for a total value of $2,998,589.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, September 8th, Andrew Houston sold 45,835 shares of Dropbox stock. The stock was sold at an average price of $30.04, for a total value of $1,376,883.40.
• On Thursday, August 14th, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was sold at an average price of $27.83, for a total value of $2,560,360.00.

Dropbox Price Performance

NASDAQ DBX opened at $29.41 on Friday. The firm has a market cap of $7.94 billion, a P/E ratio of 17.93, a P/E/G ratio of 3.89 and a beta of 0.67. The stock’s 50-day moving average is $29.10 and its 200-day moving average is $28.35. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The company had revenue of $625.70 million for the quarter, compared to analyst estimates of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.Dropbox’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. Equities analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DBX. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Saturday, September 27th. Finally, UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $29.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DBX. Elequin Capital LP increased its position in shares of Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after purchasing an additional 469 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Dropbox during the 2nd quarter worth approximately $30,000. Geneos Wealth Management Inc. increased its position in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock worth $37,000 after purchasing an additional 991 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Dropbox during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Company Profile

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.