Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells 351,306 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 351,306 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $207,658,649.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, September 26th, Andrew Houston sold 28,012 shares of Dropbox stock. The shares were sold at an average price of $25.01, for a total value of $700,580.12.
• 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 value 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 Trading Down 0.6 %

Shares of NASDAQ DBX opened at $25.37 on Friday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The stock’s fifty day simple moving average is $23.93 and its two-hundred day simple moving average is $23.32. The stock has a market capitalization of $8.38 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61.

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

Analysts Set New Price Targets

DBX has been the topic of a number of recent analyst reports. Citigroup reduced 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 dropped their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and an average price target of $28.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DBX. Vanguard Group Inc. grew its stake in Dropbox by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after buying an additional 105,250 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Dropbox during the first quarter worth about $4,900,000. Lakewood Asset Management LLC purchased a new stake in shares of Dropbox during the second quarter worth about $797,000. Janus Henderson Group PLC increased its holdings in shares of Dropbox by 16.4% during the first quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after acquiring an additional 228,316 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Dropbox by 32.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,260 shares of the company’s stock valued at $3,749,000 after purchasing an additional 38,131 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.