Andrew Houston Sells 500,323 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 500,323 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction of $4,131,844.95.
• On Monday, December 2nd, Andrew Houston sold 132,000 shares of Dropbox stock. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00.

Dropbox Trading Up 0.2 %

NASDAQ:DBX traded up $0.07 on Monday, hitting $30.07. 3,654,880 shares of the stock were exchanged, compared to its average volume of 2,994,327. The stock has a fifty day moving average of $28.59 and a 200-day moving average of $25.57. The stock has a market cap of $9.31 billion, a PE ratio of 17.38, a PEG ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lifted 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.86.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of Dropbox in the third quarter worth $28,000. V Square Quantitative Management LLC purchased a new position in Dropbox in the third quarter valued at about $31,000. Quarry LP raised its position in Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares during the period. UMB Bank n.a. boosted its position in shares of Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after buying an additional 1,686 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Dropbox by 133.3% in the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after buying an additional 1,650 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.