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

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 92,000 shares of the firm's 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 directly owned 8,266,666 shares of the company's stock, valued at $231,135,981.36. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

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

Dropbox Trading Up 1.5%

DBX stock traded up $0.40 during mid-day trading on Thursday, hitting $27.95. 2,351,807 shares of the company were exchanged, compared to its average volume of 3,389,227. Dropbox, Inc. has a 1-year low of $21.32 and a 1-year high of $33.33. The stock has a market capitalization of $7.87 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 10.90 and a beta of 0.65. The business has a 50 day simple moving average of $28.77 and a 200-day simple moving average of $28.82.

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

Institutional Trading of Dropbox

A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc raised its position in shares of Dropbox by 436.7% in the fourth quarter. IFP Advisors Inc now owns 3,322 shares of the company's stock valued at $101,000 after buying an additional 2,703 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Dropbox in the fourth quarter valued at approximately $511,000. SVB Wealth LLC acquired a new position in Dropbox during the fourth quarter valued at approximately $230,000. Fisher Asset Management LLC lifted its stake in Dropbox by 26.6% during the fourth quarter. Fisher Asset Management LLC now owns 196,406 shares of the company's stock worth $5,900,000 after purchasing an additional 41,275 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox in the 4th quarter valued at $40,000. Institutional investors own 94.84% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DBX. UBS Group lifted their price target on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Citigroup lifted their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" 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.

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