Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 45,835 Shares

Key Points

• Dropbox CEO Andrew Houston sold 45,835 shares of the company at an average price of $30.04, totaling approximately $1.38 million.
• The company's Q2 earnings showed an EPS of $0.71, beating estimates of $0.63, but revenue fell by 1.4% to $625.70 million year-over-year.
• Recent brokerage activity includes UBS lowering its price target from $31.00 to $29.00 and changing its rating to "neutral".

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 45,835 shares of Dropbox stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.04, for a total transaction of $1,376,883.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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.
• 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 transaction of $2,572,320.00.

Dropbox Stock Up 3.1%

DBX stock traded up $0.96 during mid-day trading on Monday, hitting $31.87. The company had a trading volume of 3,306,444 shares, compared to its average volume of 2,996,801. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 4.09 and a beta of 0.69. Dropbox, Inc. has a 12-month low of $24.25 and a 12-month high of $33.33. The company has a 50-day moving average price of $28.14 and a 200 day moving average price of $27.89.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $625.70 million for the quarter, compared to analysts' expectations of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

DBX has been the topic of a number of research reports. Wall Street Zen downgraded shares of Dropbox from a "buy" rating to a "hold" rating in a report on Friday, September 5th. UBS Group reduced their target price on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $30.33.

Hedge Funds Weigh In On Dropbox

Several hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in Dropbox by 198.8% during the 2nd quarter. Osaic Holdings Inc. now owns 36,040 shares of the company's stock valued at $1,029,000 after purchasing an additional 23,978 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Dropbox by 3.0% during the 2nd quarter. Centaurus Financial Inc. now owns 38,168 shares of the company's stock valued at $1,092,000 after purchasing an additional 1,114 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in Dropbox by 37.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 48,912 shares of the company's stock valued at $1,399,000 after purchasing an additional 13,294 shares during the last quarter. Marex Group plc bought a new position in Dropbox during the 2nd quarter valued at about $297,000. Finally, Advisory Services Network LLC grew its holdings in Dropbox by 38.0% during the 2nd quarter. Advisory Services Network LLC now owns 32,095 shares of the company's stock valued at $872,000 after purchasing an additional 8,845 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

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.