Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 23,818 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 23,818 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $27.51, for a total value of $655,233.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 9th, Andrew Houston sold 36,182 shares of Dropbox stock. The stock was sold at an average price of $27.54, for a total transaction of $996,452.28.
• On Friday, January 2nd, Andrew Houston sold 92,668 shares of Dropbox stock. The stock was sold at an average price of $26.91, for a total transaction 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 transaction of $275,010.00.
• On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was 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 shares were sold at an average price of $30.23, for a total transaction of $3,058,278.41.

Dropbox Stock Down 2.1%

Shares of Dropbox stock opened at $26.75 on Wednesday. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The business has a 50-day moving average price of $28.77 and a 200-day moving average price of $28.75. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 2.23 and a beta of 0.62.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $634.40 million during the quarter, compared to analyst estimates of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. On average, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of Dropbox by 7.3% in the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after acquiring an additional 2,655 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in Dropbox by 11.3% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 13,073 shares of the company’s stock valued at $374,000 after purchasing an additional 1,328 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Dropbox by 11.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 48,224 shares of the company’s stock worth $1,350,000 after purchasing an additional 5,136 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Dropbox by 26.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 197,200 shares of the company’s stock worth $5,636,000 after purchasing an additional 40,700 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Dropbox by 0.8% in the second quarter. Assenagon Asset Management S.A. now owns 88,984 shares of the company’s stock worth $2,545,000 after purchasing an additional 691 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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