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 the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.04, for a total value of $1,376,883.40. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $27.83, for a total value of $2,560,360.00.
• 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.

Dropbox Stock Performance

Shares of DBX traded down $0.49 during mid-day trading on Wednesday, reaching $30.71. The company had a trading volume of 3,876,334 shares, compared to its average volume of 3,723,299. The firm has a 50-day moving average price of $27.87 and a 200 day moving average price of $27.74. Dropbox, Inc. has a 52 week low of $23.33 and a 52 week high of $33.33. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 4.01 and a beta of 0.70.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.71 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 firm had revenue of $625.70 million for the quarter, compared to analysts' expectations of $618.60 million. During the same period in the previous year, the firm posted $0.60 EPS. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DBX. UBS Group dropped their price target on Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $30.33.

Hedge Funds Weigh In On Dropbox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elequin Capital LP lifted its position in Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after acquiring an additional 469 shares in the last quarter. Neo Ivy Capital Management bought a new position in Dropbox in the 2nd quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its position in Dropbox by 78.0% in the 2nd 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 in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after buying an additional 991 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Dropbox during the 2nd quarter valued at $41,000. 94.84% of the stock is owned by institutional investors.

About Dropbox

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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