Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells 28,012 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 28,012 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $25.01, for a total transaction of $700,580.12. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,749,316.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, September 24th, Andrew Houston sold 66,064 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total transaction of $1,651,600.00.
• On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00.

Dropbox Stock Performance

NASDAQ:DBX opened at $25.05 on Wednesday. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The stock has a fifty day moving average price of $23.81 and a 200-day moving average price of $23.27.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The business had revenue of $634.50 million during the quarter, compared to analysts’ expectations of $630.10 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. Dropbox’s revenue was up 1.9% compared to the same quarter last year. Research analysts predict that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Institutional Trading of Dropbox

Several large investors have recently made changes to their positions in DBX. Vanguard Group Inc. raised its position in Dropbox by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after purchasing an additional 105,250 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Dropbox by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after buying an additional 506,200 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Dropbox by 63.0% during the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after buying an additional 2,881,981 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Dropbox by 0.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock worth $113,485,000 after buying an additional 32,600 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Dropbox by 9.2% in the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after buying an additional 314,862 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup lowered their target price on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. UBS Group decreased their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.67.

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.