Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 29,917 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 29,917 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $30.07, for a total transaction of $899,604.19. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $248,578,646.62. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95.
• On Wednesday, December 11th, Andrew Houston sold 137,499 shares of Dropbox stock. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95.
• On Monday, December 2nd, Andrew Houston sold 132,000 shares of Dropbox stock. The shares were sold at an average price of $28.12, for a total value of $3,711,840.00.

Dropbox Price Performance

Shares of DBX opened at $29.74 on Thursday. The company has a 50-day moving average of $28.66 and a two-hundred day moving average of $25.63. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their price target on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in shares of Dropbox in the 3rd quarter valued at $28,000. V Square Quantitative Management LLC acquired a new stake in Dropbox during the 3rd quarter worth $31,000. Quarry LP lifted its stake in Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after buying an additional 880 shares during the period. UMB Bank n.a. increased its stake in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,686 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Dropbox by 133.3% in the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock worth $73,000 after acquiring an additional 1,650 shares in the last quarter. 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.