Andrew Houston Sells 37,498 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 37,498 shares of Dropbox stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $25.96, for a total value of $973,448.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Andrew Houston sold 111,166 shares of Dropbox stock. The stock was sold at an average price of $22.89, for a total value of $2,544,589.74.
• On Monday, March 2nd, Andrew Houston sold 109,498 shares of Dropbox stock. The stock was sold at an average price of $24.94, for a total value of $2,730,880.12.

Dropbox Stock Up 4.3%

Shares of DBX traded up $1.16 during mid-day trading on Monday, hitting $27.98. The stock had a trading volume of 6,109,577 shares, compared to its average volume of 3,993,974. The company has a market cap of $6.53 billion, a PE ratio of 15.29, a PEG ratio of 3.02 and a beta of 0.64. The company’s fifty day simple moving average is $24.52 and its two-hundred day simple moving average is $26.42. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $32.40.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. Equities analysts expect that Dropbox, Inc. will post 2.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rossby Financial LCC boosted its position in Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after acquiring an additional 527 shares during the period. Palisade Asset Management LLC acquired a new position in Dropbox during the 3rd quarter worth $30,000. First Horizon Corp acquired a new position in Dropbox during the 3rd quarter worth $31,000. Kestra Advisory Services LLC acquired a new position in Dropbox during the 4th quarter worth $31,000. Finally, Larson Financial Group LLC boosted its position in Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after acquiring an additional 791 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on DBX shares. Royal Bank Of Canada lifted their target price on Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Citigroup lifted their target price on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group reduced their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $27.00.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.