Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells 80,499 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $256,018,646.02. The trade was a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, January 6th, Andrew Houston sold 29,917 shares of Dropbox stock. The stock was sold at an average price of $30.07, for a total transaction of $899,604.19.
• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The stock was sold at an average price of $29.65, for a total transaction 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 stock was sold at an average price of $28.12, for a total value of $3,711,840.00.

Dropbox Price Performance

NASDAQ DBX traded down $0.07 during trading on Thursday, reaching $31.12. 2,175,623 shares of the company’s stock traded hands, compared to its average volume of 2,488,587. The company’s 50 day simple moving average is $29.37 and its two-hundred day simple moving average is $26.21. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Dropbox

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in shares of Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after purchasing an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after acquiring an additional 365,893 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Dropbox by 0.6% during the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after acquiring an additional 25,893 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Dropbox by 39.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after purchasing an additional 859,233 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after purchasing an additional 228,685 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

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.