Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 36,182 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 36,182 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $27.54, for a total value of $996,452.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, January 12th, Andrew Houston sold 23,818 shares of Dropbox stock. The stock was sold at an average price of $27.51, for a total value of $655,233.18.
• On Friday, January 2nd, Andrew Houston sold 92,668 shares of Dropbox stock. The shares were 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 stock was 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 shares were 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 Price Performance

Shares of NASDAQ:DBX traded down $0.58 during mid-day trading on Tuesday, reaching $26.75. 4,421,063 shares of the company were exchanged, compared to its average volume of 3,398,451. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 2.23 and a beta of 0.62. The firm’s 50-day simple moving average is $28.81 and its 200 day simple moving average is $28.76. Dropbox, Inc. has a 1 year low of $24.42 and a 1 year high of $33.33.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DBX. Rossby Financial LCC lifted its stake in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after purchasing an additional 527 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Dropbox in the second quarter valued at approximately $30,000. Palisade Asset Management LLC acquired a new stake in Dropbox during the third quarter worth approximately $30,000. First Horizon Corp acquired a new stake in Dropbox during the third quarter worth approximately $31,000. Finally, LRI Investments LLC lifted its position in shares of Dropbox by 666.7% during the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on DBX shares. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Royal Bank Of Canada lowered their target price on Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. One investment 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.com, the stock has a consensus rating of “Hold” and an average target price of $31.33.

Dropbox Company Profile

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.