Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 82,000 shares of the business's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at $193,770,651.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Andrew Houston also recently made the following trade(s):
- On Tuesday, March 5th, Andrew Houston sold 164,000 shares of Dropbox stock. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00.
Dropbox Stock Down 0.9 %
Shares of DBX opened at $23.37 on Friday. The firm's fifty day moving average is $23.76 and its two-hundred day moving average is $27.15. The stock has a market cap of $8.04 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.65 and a beta of 0.70. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43.
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Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The company had revenue of $635.00 million during the quarter, compared to analysts' expectations of $630.77 million. As a group, research analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its stake in Dropbox by 65.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company's stock worth $64,825,000 after purchasing an additional 869,043 shares during the period. Nordea Investment Management AB increased its holdings in shares of Dropbox by 5.6% during the 3rd quarter. Nordea Investment Management AB now owns 2,146,895 shares of the company's stock worth $59,050,000 after buying an additional 113,947 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Dropbox by 5.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company's stock valued at $120,327,000 after buying an additional 227,633 shares during the period. Pzena Investment Management LLC acquired a new position in Dropbox in the third quarter valued at approximately $463,000. Finally, Trexquant Investment LP acquired a new stake in Dropbox during the third quarter worth $6,898,000. Hedge funds and other institutional investors own 94.84% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on DBX shares. KeyCorp lifted their price target on Dropbox from $32.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, January 19th. Bank of America cut Dropbox from a "buy" rating to an "underperform" rating and cut their price objective for the company from $34.00 to $28.00 in a research report on Friday, February 16th. JMP Securities lowered Dropbox from an "outperform" rating to a "market perform" rating in a research report on Friday, February 16th. The Goldman Sachs Group cut shares of Dropbox from a "neutral" rating to a "sell" rating and dropped their price target for the company from $26.00 to $24.00 in a research note on Friday, February 16th. Finally, Citigroup reduced their price objective on shares of Dropbox from $31.00 to $27.00 and set a "neutral" rating for the company in a research report on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.78.
View Our Latest Report on Dropbox
About Dropbox
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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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