Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells 132,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 132,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, October 1st, Andrew Houston sold 351,306 shares of Dropbox stock. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72.
• On Thursday, September 26th, Andrew Houston sold 28,012 shares of Dropbox stock. The stock was sold at an average price of $25.01, for a total value of $700,580.12.
• On Tuesday, September 24th, Andrew Houston sold 66,064 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value of $1,651,600.00.
• On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total value of $87,325.00.

Dropbox Stock Down 0.1 %

Shares of Dropbox stock traded down $0.04 during trading hours on Wednesday, hitting $28.69. 1,296,322 shares of the company’s stock traded hands, compared to its average volume of 3,621,797. The stock has a 50 day simple moving average of $26.57 and a 200-day simple moving average of $24.25. The company has a market cap of $8.89 billion, a PE ratio of 16.57, a PEG ratio of 1.59 and a beta of 0.63. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43.

Institutional Trading of Dropbox

Several large investors have recently modified their holdings of DBX. Capital Performance Advisors LLP acquired a new position in Dropbox in the third quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in Dropbox during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC grew its position in shares of Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after acquiring an additional 907 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after acquiring an additional 1,169 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of 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. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dropbox presently has an average rating of “Hold” and a consensus target price of $28.67.

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.