Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CEO Andrew Houston sold 82,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $193,770,651.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Andrew Houston also recently made the following trade(s):
- On Tuesday, March 5th, Andrew Houston sold 164,000 shares of Dropbox stock. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00.
Dropbox Stock Performance
Dropbox stock opened at $23.37 on Friday. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The firm has a 50 day moving average price of $23.76 and a 200 day moving average price of $27.15. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.65 and a beta of 0.70.
Analyst Ratings Changes
Several equities analysts have weighed in on DBX shares. KeyCorp raised their price target on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. cut shares of Dropbox from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Finally, Citigroup reduced their price objective on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.78.
View Our Latest Stock Report on Dropbox
Institutional Investors Weigh In On Dropbox
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Dropbox during the 4th quarter worth about $25,000. Contravisory Investment Management Inc. acquired a new position in Dropbox during the fourth quarter valued at approximately $26,000. Fifth Third Bancorp grew its stake in Dropbox by 424.2% during the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after buying an additional 878 shares during the period. Principal Securities Inc. acquired a new stake in shares of Dropbox in the fourth quarter worth $34,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Dropbox in the 1st quarter valued at $28,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.
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.
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