Andrew Houston Sells 111,166 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 111,166 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $22.89, for a total transaction of $2,544,589.74. Following the transaction, the chief executive officer directly owned 8,266,666 shares of the company’s stock, valued at $189,223,984.74. The trade was a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 2nd, Andrew Houston sold 109,498 shares of Dropbox stock. The stock was sold at an average price of $24.94, for a total transaction of $2,730,880.12.
• On Monday, February 2nd, Andrew Houston sold 164,502 shares of Dropbox stock. The stock was sold at an average price of $25.66, for a total value of $4,221,121.32.
• 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 9th, Andrew Houston sold 36,182 shares of Dropbox stock. The shares were sold at an average price of $27.54, for a total value of $996,452.28.

Dropbox Stock Performance

Shares of DBX stock opened at $23.40 on Friday. Dropbox, Inc. has a 1-year low of $22.00 and a 1-year high of $32.40. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.65 and a beta of 0.61. The stock has a 50-day moving average of $24.88 and a 200-day moving average of $27.48.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The business had revenue of $636.20 million for the quarter, compared to analysts’ expectations of $627.83 million. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Institutional Trading of Dropbox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WealthCollab LLC boosted its holdings in Dropbox by 20.6% in the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after acquiring an additional 403 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Dropbox by 8.3% during the fourth quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock worth $160,000 after purchasing an additional 440 shares during the period. Lakewood Asset Management LLC raised its position in shares of Dropbox by 1.0% during the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after purchasing an additional 458 shares during the period. Kera Capital Partners Inc. lifted its holdings in shares of Dropbox by 3.7% in the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after purchasing an additional 460 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Dropbox by 1.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock worth $730,000 after purchasing an additional 466 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DBX. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. dropped their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Royal Bank Of Canada cut their target price on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Finally, UBS Group decreased their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Dropbox has a consensus rating of “Reduce” and an average price target of $27.50.

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.