Dropbox (NASDAQ:DBX) CEO Sells $973,448.08 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 37,498 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $25.96, for a total value of $973,448.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Andrew Houston sold 111,166 shares of Dropbox stock. The shares were sold at an average price of $22.89, for a total transaction of $2,544,589.74.
• On Monday, March 2nd, Andrew Houston sold 109,498 shares of Dropbox stock. The shares were sold at an average price of $24.94, for a total transaction of $2,730,880.12.

Dropbox Price Performance

Shares of NASDAQ DBX traded up $1.16 during mid-day trading on Monday, reaching $27.98. 6,109,577 shares of the company traded hands, compared to its average volume of 3,993,974. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $32.40. The firm has a market cap of $6.53 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 3.02 and a beta of 0.64. The stock has a fifty day simple moving average of $24.52 and a 200-day simple moving average of $26.42.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts predict that Dropbox, Inc. will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DBX shares. William Blair reissued an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group cut their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Citigroup lifted their price target on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $27.00.

Institutional Investors Weigh In On Dropbox

Several hedge funds have recently modified their holdings of the stock. WealthCollab LLC lifted its holdings in shares of Dropbox by 20.6% during the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock valued at $65,000 after purchasing an additional 403 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Dropbox by 8.3% during the fourth quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after purchasing an additional 440 shares during the last quarter. Lakewood Asset Management LLC raised its position in Dropbox by 1.0% during the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after buying an additional 458 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Dropbox by 1.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock valued at $730,000 after buying an additional 466 shares during the period. Finally, Merit Financial Group LLC raised its position in Dropbox by 4.4% during the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock valued at $344,000 after buying an additional 480 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

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.