Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 92,000 Shares

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 92,000 shares of Dropbox stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $27.96, for a total transaction of $2,572,320.00. Following the completion of the transaction, the chief executive officer owned 8,266,666 shares in the company, valued at approximately $231,135,981.36. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, June 11th, Andrew Houston sold 319,000 shares of Dropbox stock. The stock was sold at an average price of $28.48, for a total value of $9,085,120.00.

Dropbox Stock Up 1.5%

NASDAQ DBX traded up $0.40 during trading hours on Friday, hitting $27.95. 2,351,807 shares of the stock were exchanged, compared to its average volume of 3,394,626. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 11.01 and a beta of 0.65. Dropbox, Inc. has a 12-month low of $21.32 and a 12-month high of $33.33. The stock has a 50-day moving average of $28.75 and a 200 day moving average of $28.78.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The business had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The company's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS. On average, equities research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC grew its stake in shares of Dropbox by 1,640.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company's stock worth $57,187,000 after purchasing an additional 2,017,997 shares during the period. Seizert Capital Partners LLC boosted its holdings in Dropbox by 524.8% during the first quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company's stock worth $50,198,000 after buying an additional 1,578,566 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Dropbox by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after buying an additional 1,440,887 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Dropbox by 291.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company's stock worth $54,007,000 after buying an additional 1,338,234 shares during the period. Finally, LSV Asset Management increased its holdings in Dropbox by 24.0% in the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock valued at $193,641,000 after buying an additional 1,245,563 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Analyst Upgrades and Downgrades

DBX has been the subject of several analyst reports. Citigroup upped their price target on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. UBS Group boosted their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, May 9th.

Dropbox Company Profile

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.