Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 92,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer owned 8,266,666 shares in the company, valued at $230,061,314.78. This trade represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Andrew Houston also recently made the following trade(s):
- On Tuesday, July 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The shares were 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 shares were sold at an average price of $28.48, for a total value of $9,085,120.00.
Dropbox Stock Up 1.8%
NASDAQ:DBX traded up $0.50 during trading hours on Friday, reaching $28.82. The company had a trading volume of 2,372,209 shares, compared to its average volume of 3,567,613. The stock has a 50-day moving average of $27.68 and a two-hundred day moving average of $27.96. Dropbox, Inc. has a one year low of $22.72 and a one year high of $33.33. The firm has a market capitalization of $7.78 billion, a PE ratio of 17.57, a PEG ratio of 3.81 and a beta of 0.64.
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. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm had revenue of $625.70 million for the quarter, compared to analysts' expectations of $618.60 million. During the same period in the prior year, the business posted $0.60 earnings per share. The business's revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Hedge Funds Weigh In On Dropbox
Several large investors have recently made changes to their positions in DBX. Elequin Capital LP lifted its stake in shares of Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after acquiring an additional 469 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Dropbox during the second quarter valued at $30,000. True Wealth Design LLC lifted its stake in shares of Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock valued at $31,000 after acquiring an additional 680 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock valued at $36,000 after acquiring an additional 558 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after acquiring an additional 991 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on DBX shares. UBS Group reduced their price objective on Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Citigroup boosted their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.33.
Check Out Our Latest Analysis on DBX
About Dropbox
(
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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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