Key Points
- CEO Andrew Houston sold 92,668 shares on Jan. 2 at $26.91 for $2,493,695.88 and has completed additional insider sales in Nov–Dec, with combined proceeds of about $8.54 million.
- Dropbox shares trade around $27 with a market cap near $7 billion; the company recently beat EPS and revenue estimates but reported a 0.7% year-over-year revenue decline, and analysts' consensus rating is "Hold" with a $31.33 target.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 92,668 shares of the firm's stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $26.91, for a total value of $2,493,695.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Andrew Houston also recently made the following trade(s):
- On Wednesday, December 3rd, Andrew Houston sold 9,167 shares of Dropbox stock. The stock was sold at an average price of $30.00, for a total value of $275,010.00.
- On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was 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 stock was sold at an average price of $30.23, for a total transaction of $3,058,278.41.
Dropbox Stock Performance
Shares of NASDAQ:DBX opened at $26.99 on Wednesday. The firm has a market cap of $6.98 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. The firm's 50 day simple moving average is $28.94 and its 200-day simple moving average is $28.79. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. The company had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Equities research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on DBX. Wall Street Zen upgraded shares of Dropbox from a "hold" rating to a "buy" rating in a research note on Saturday, November 8th. UBS Group cut shares of Dropbox from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Weiss Ratings restated a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their target price on Dropbox from $38.00 to $35.00 and set an "outperform" rating on the stock in a research note on Monday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $31.33.
View Our Latest Analysis on DBX
Hedge Funds Weigh In On Dropbox
A number of institutional investors and hedge funds have recently bought and sold shares of DBX. Rossby Financial LCC increased its holdings in shares of Dropbox by 128.5% in the third quarter. Rossby Financial LCC now owns 937 shares of the company's stock valued at $28,000 after buying an additional 527 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Dropbox during the 2nd quarter worth about $30,000. Palisade Asset Management LLC bought a new position in Dropbox in the 3rd quarter worth $30,000. First Horizon Corp bought a new position in Dropbox during the third quarter worth $31,000. Finally, LRI Investments LLC increased its position in shares of Dropbox by 666.7% during the third quarter. LRI Investments LLC now owns 1,150 shares of the company's stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 94.84% of the company's stock.
Dropbox Company Profile
(
Get Free Report)
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.
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