Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CEO Andrew Houston sold 383,800 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $35.81, for a total transaction of $13,743,878.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Andrew Houston also recently made the following trade(s):
- On Monday, October 12th, Andrew Houston sold 29,500 shares of Dropbox stock. The stock was sold at an average price of $35.09, for a total transaction of $1,035,155.00.
- On Thursday, October 1st, Andrew Houston sold 354,300 shares of Dropbox stock. The stock was sold at an average price of $34.01, for a total transaction of $12,049,743.00.
- On Thursday, September 10th, Andrew Houston sold 383,800 shares of Dropbox stock. The shares were sold at an average price of $35.02, for a total transaction of $13,440,676.00.
Dropbox Price Performance
Shares of Dropbox stock traded up $1.17 on Wednesday, reaching $36.13. 3,395,237 shares of the company traded hands, compared to its average volume of 3,940,182. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $38.22. The company has a 50 day moving average of $35.27 and a 200 day moving average of $29.11. The firm has a market capitalization of $8.15 billion, a PE ratio of 20.07, a PEG ratio of 3.52 and a beta of 0.62.
Dropbox (NASDAQ:DBX – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The company had revenue of $631.50 million for the quarter, compared to analysts’ expectations of $626.69 million. During the same quarter in the previous year, the firm posted $0.71 EPS. Dropbox’s revenue was up .9% on a year-over-year basis. As a group, analysts anticipate that Dropbox, Inc. will post 1.94 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Stephens initiated coverage on Dropbox in a research note on Tuesday. They set an “equal weight” rating and a $39.00 price target for the company. Bank of America restated an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Zacks Research raised shares of Dropbox from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Dropbox from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $31.60.
Check Out Our Latest Analysis on DBX
Hedge Funds Weigh In On Dropbox
Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Dropbox by 5.2% in the 3rd quarter. GAMMA Investing LLC now owns 10,054 shares of the company’s stock worth $340,000 after buying an additional 500 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Dropbox by 63.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,363 shares of the company’s stock worth $46,000 after buying an additional 527 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Dropbox by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 42,000 shares of the company’s stock valued at $954,000 after buying an additional 800 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Dropbox by 68.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock worth $47,000 after acquiring an additional 831 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in Dropbox by 3.2% in the third quarter. Evergreen Capital Management LLC now owns 26,941 shares of the company’s stock worth $912,000 after acquiring an additional 841 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.
About Dropbox
Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.
The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.
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