Dropbox (NASDAQ:DBX) CEO Sells $2,730,880.12 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 109,498 shares of Dropbox stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $24.94, for a total value of $2,730,880.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, February 2nd, Andrew Houston sold 164,502 shares of Dropbox stock. The shares were sold at an average price of $25.66, for a total transaction 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 transaction of $655,233.18.
• On Friday, January 9th, Andrew Houston sold 36,182 shares of Dropbox stock. The stock was sold at an average price of $27.54, for a total transaction of $996,452.28.
• 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.

Dropbox Stock Performance

Shares of DBX opened at $26.79 on Friday. Dropbox, Inc. has a 1 year low of $23.63 and a 1 year high of $32.40. The company’s 50 day simple moving average is $25.89 and its 200 day simple moving average is $28.22. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.86 and a beta of 0.63.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Empowered Funds LLC grew its stake in Dropbox by 7.3% during the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after buying an additional 2,655 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Dropbox by 17.2% in the second quarter. Envestnet Asset Management Inc. now owns 128,398 shares of the company’s stock valued at $3,672,000 after buying an additional 18,849 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Dropbox during the second quarter valued at $302,000. Atria Investments Inc acquired a new position in shares of Dropbox during the second quarter valued at $292,000. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Dropbox during the second quarter worth about $2,402,000. Institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

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

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.