Andrew Houston Sells 101,167 Shares of Dropbox (NASDAQ:DBX) Stock

Key Points

• CEO Andrew Houston of Dropbox sold 101,167 shares of the company's stock on October 1st for a total of approximately $2.99 million.
• Dropbox's stock experienced a 1.5% decline on October 3rd, reaching a price of $29.41 per share, with a market cap of $7.94 billion.
• Recent analyst reports have lowered Dropbox's ratings, with UBS cutting its rating from "neutral" to "sell" and targeting a price of $27.00.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 101,167 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $29.64, for a total transaction of $2,998,589.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, September 8th, Andrew Houston sold 45,835 shares of Dropbox stock. The shares were sold at an average price of $30.04, for a total transaction of $1,376,883.40.
• On Thursday, August 14th, Andrew Houston sold 92,000 shares of Dropbox stock. The shares were sold at an average price of $27.83, for a total transaction of $2,560,360.00.

Dropbox Trading Down 1.5%

Shares of NASDAQ:DBX traded down $0.44 during mid-day trading on Friday, reaching $29.41. The stock had a trading volume of 2,461,196 shares, compared to its average volume of 3,715,595. The firm has a market cap of $7.94 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 3.90 and a beta of 0.67. The firm has a 50 day simple moving average of $29.07 and a two-hundred day simple moving average of $28.32. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The business had revenue of $625.70 million for the quarter, compared to the consensus estimate of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. Dropbox's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. On average, equities analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the business. SGL Investment Advisors Inc. grew its stake in shares of Dropbox by 2.4% in the second quarter. SGL Investment Advisors Inc. now owns 16,143 shares of the company's stock valued at $442,000 after buying an additional 375 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Dropbox by 5.6% in the first quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock valued at $198,000 after buying an additional 395 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Dropbox by 33.4% in the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock valued at $48,000 after buying an additional 449 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Dropbox by 5.7% in the second quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company's stock valued at $246,000 after buying an additional 461 shares in the last quarter. Finally, Elequin Capital LP grew its stake in shares of Dropbox by 71.0% in the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after buying an additional 469 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DBX shares. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group cut Dropbox from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Dropbox in a research note on Saturday, September 27th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Dropbox presently has an average rating of "Reduce" and an average target price of $29.67.

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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