Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 92,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.83, for a total value of $2,560,360.00. Following the completion of the transaction, the chief executive officer owned 8,266,666 shares of the company's stock, valued at $230,061,314.78. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Andrew Houston also recently made the following trade(s):
- On Tuesday, July 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was sold at an average price of $27.96, for a total value of $2,572,320.00.
- 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 Performance
Shares of DBX traded up $0.50 during mid-day trading on Friday, reaching $28.82. 2,372,209 shares of the company were exchanged, compared to its average volume of 3,567,613. Dropbox, Inc. has a 52 week low of $22.72 and a 52 week high of $33.33. The stock has a market capitalization of $7.78 billion, a PE ratio of 17.57, a PEG ratio of 3.75 and a beta of 0.64. The business has a 50 day simple moving average of $27.68 and a two-hundred day simple moving average of $28.00.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The company had revenue of $625.70 million during the quarter, compared to the consensus estimate of $618.60 million. During the same period last year, the company earned $0.60 earnings per share. The firm's revenue was down 1.4% compared to the same quarter last year. On average, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.
Institutional Investors Weigh In On Dropbox
Several hedge funds and other institutional investors have recently modified their holdings of DBX. LPL Financial LLC grew its holdings in Dropbox by 31.2% during the fourth quarter. LPL Financial LLC now owns 24,506 shares of the company's stock worth $736,000 after buying an additional 5,823 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Dropbox by 31.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 39,526 shares of the company's stock worth $1,187,000 after buying an additional 9,570 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Dropbox during the fourth quarter worth $2,511,000. Sterling Capital Management LLC grew its holdings in Dropbox by 40.2% during the fourth quarter. Sterling Capital Management LLC now owns 11,112 shares of the company's stock worth $334,000 after buying an additional 3,187 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Dropbox by 34.7% during the fourth quarter. CreativeOne Wealth LLC now owns 12,274 shares of the company's stock worth $369,000 after buying an additional 3,159 shares in the last quarter. Institutional investors own 94.84% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Citigroup lifted their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. UBS Group lowered their target price on Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $30.33.
View Our Latest Research Report on DBX
Dropbox Company Profile
(
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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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