Dropbox, Inc. (NASDAQ:DBX) CEO Sells $1,922,080.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total value of $1,922,080.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $193,770,651.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, March 5th, Andrew Houston sold 164,000 shares of Dropbox stock. The stock was sold at an average price of $23.86, for a total transaction of $3,913,040.00.

Dropbox Price Performance

DBX stock traded down $0.22 during trading on Friday, hitting $23.37. 5,039,040 shares of the company traded hands, compared to its average volume of 3,857,676. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The stock’s 50-day simple moving average is $23.77 and its 200 day simple moving average is $27.18. The company has a market cap of $8.04 billion, a PE ratio of 17.87, a P/E/G ratio of 2.64 and a beta of 0.70.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. Research analysts expect that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

Several large investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. lifted its stake in Dropbox by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after acquiring an additional 415 shares in the last quarter. iA Global Asset Management Inc. lifted its position in shares of Dropbox by 6.1% during the third quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after purchasing an additional 417 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Dropbox by 7.4% in the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock valued at $196,000 after purchasing an additional 459 shares during the period. Cooper Financial Group increased its stake in Dropbox by 3.1% during the 1st quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock worth $379,000 after buying an additional 462 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Dropbox by 2.7% in the third quarter. Daiwa Securities Group Inc. now owns 19,167 shares of the company’s stock valued at $522,000 after purchasing an additional 500 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on DBX shares. JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $30.00 in a report on Friday, February 16th. Bank of America downgraded Dropbox from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $28.00 in a research report on Friday, February 16th. Citigroup decreased their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Finally, KeyCorp increased their price target on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Dropbox has an average rating of “Hold” and a consensus price target of $29.78.

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.