Andrew Houston Sells 36,182 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 36,182 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $27.54, for a total transaction of $996,452.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 2nd, Andrew Houston sold 92,668 shares of Dropbox stock. The shares were sold at an average price of $26.91, for a total value of $2,493,695.88.
• On Wednesday, December 3rd, Andrew Houston sold 9,167 shares of Dropbox stock. The shares were sold at an average price of $30.00, for a total value of $275,010.00.
• On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The shares were sold at an average price of $29.53, for a total transaction of $2,716,760.00.
• On Friday, November 14th, Andrew Houston sold 101,167 shares of Dropbox stock. The stock was sold at an average price of $30.23, for a total transaction of $3,058,278.41.

Dropbox Stock Performance

NASDAQ DBX traded down $0.58 during trading on Tuesday, reaching $26.75. The company’s stock had a trading volume of 4,421,063 shares, compared to its average volume of 3,398,451. The business’s fifty day moving average price is $28.81 and its 200-day moving average price is $28.76. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 2.23 and a beta of 0.62.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The business had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently modified their holdings of DBX. LSV Asset Management increased its stake in Dropbox by 38.1% in the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after purchasing an additional 3,205,140 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Dropbox in the second quarter valued at $56,911,000. Norges Bank purchased a new position in shares of Dropbox in the second quarter valued at $51,307,000. Allianz Asset Management GmbH raised its stake in shares of Dropbox by 47.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock worth $64,164,000 after buying an additional 686,577 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Dropbox by 10.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock worth $190,538,000 after buying an additional 605,258 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. Royal Bank Of Canada dropped their target price on Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. UBS Group downgraded Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Dropbox has a consensus rating of “Hold” and a consensus price target of $31.33.

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.