Insider Selling: Dropbox (NASDAQ:DBX) CEO Sells 9,167 Shares of Stock

by · The Cerbat Gem

Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CEO Andrew Houston sold 9,167 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $30.00, for a total value of $275,010.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

  • On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The shares were sold at an average price of $29.53, for a total value of $2,716,760.00.
  • On Friday, November 14th, Andrew Houston sold 101,167 shares of Dropbox stock. The shares were sold at an average price of $30.23, for a total value of $3,058,278.41.
  • On Wednesday, October 1st, Andrew Houston sold 101,167 shares of Dropbox stock. The stock was sold at an average price of $29.64, for a total value of $2,998,589.88.
  • On Monday, September 8th, Andrew Houston sold 45,835 shares of Dropbox stock. The shares were sold at an average price of $30.04, for a total value of $1,376,883.40.

Dropbox Trading Down 1.5%

Shares of NASDAQ DBX traded down $0.44 on Friday, reaching $29.34. 2,397,393 shares of the company traded hands, compared to its average volume of 3,616,214. Dropbox, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $33.33. The company has a 50 day moving average of $29.53 and a 200 day moving average of $28.90. The stock has a market capitalization of $7.59 billion, a PE ratio of 16.58, a P/E/G ratio of 2.56 and a beta of 0.63.

Dropbox (NASDAQ:DBX – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The business had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $623.59 million. During the same period last year, the company earned $0.60 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

Several hedge funds and other institutional investors have recently made changes to their positions in DBX. IFP Advisors Inc boosted its position in Dropbox by 213.0% during the 3rd quarter. IFP Advisors Inc now owns 26,071 shares of the company’s stock worth $832,000 after purchasing an additional 17,741 shares during the period. Swiss Life Asset Management Ltd acquired a new position in shares of Dropbox during the third quarter worth about $273,000. Strategic Advocates LLC lifted its stake in shares of Dropbox by 1.5% during the third quarter. Strategic Advocates LLC now owns 37,835 shares of the company’s stock worth $1,143,000 after purchasing an additional 563 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Dropbox by 15.4% in the third quarter. CIBC Private Wealth Group LLC now owns 13,166 shares of the company’s stock worth $398,000 after buying an additional 1,758 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Dropbox in the third quarter worth about $1,624,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DBX. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Royal Bank Of Canada lifted their target price on Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Finally, UBS Group downgraded Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Thursday, September 18th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.75.

Check Out Our Latest Stock Analysis on DBX

Dropbox Company Profile

(Get Free Report)

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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