Insider Selling: Dropbox (NASDAQ:DBX) CEO Sells $2,560,360.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 92,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.83, for a total transaction of $2,560,360.00. Following the sale, the chief executive officer directly owned 8,266,666 shares of the company’s stock, valued at approximately $230,061,314.78. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, July 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was sold at an average price of $27.96, for a total transaction of $2,572,320.00.
• On Wednesday, June 11th, Andrew Houston sold 319,000 shares of Dropbox stock. The shares were sold at an average price of $28.48, for a total transaction of $9,085,120.00.

Dropbox Stock Performance

Shares of Dropbox stock opened at $28.42 on Thursday. The stock has a market cap of $7.67 billion, a P/E ratio of 17.33, a P/E/G ratio of 3.81 and a beta of 0.64. The stock’s fifty day moving average is $27.66 and its 200 day moving average is $28.05. Dropbox, Inc. has a one year low of $22.72 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The business had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. Dropbox’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Citigroup raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. UBS Group reduced their price objective on shares of Dropbox from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.33.

Institutional Investors Weigh In On Dropbox

Several institutional investors and hedge funds have recently modified their holdings of DBX. Acadian Asset Management LLC increased its holdings in Dropbox by 1.9% in the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock valued at $228,202,000 after acquiring an additional 157,148 shares during the last quarter. LSV Asset Management lifted its position in shares of Dropbox by 10.2% in the second quarter. LSV Asset Management now owns 8,408,502 shares of the company’s stock worth $240,483,000 after buying an additional 774,986 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Dropbox by 10.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock valued at $190,538,000 after buying an additional 605,258 shares during the last quarter. AQR Capital Management LLC grew its holdings in Dropbox by 3.0% during the 4th quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company’s stock valued at $99,842,000 after buying an additional 97,551 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Dropbox by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company’s stock worth $78,802,000 after acquiring an additional 36,268 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

About Dropbox

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.