Key Points
- Dropbox CEO Andrew Houston sold 111,166 shares on April 1 at an average price of $22.89 for $2,544,589.74, leaving him with 8,266,666 shares (about $189.2M), a 1.33% reduction in his holding.
- The transaction was executed under a pre-arranged Rule 10b5-1 plan and continues a recent pattern of large insider sales (e.g., sales on Mar 2, Feb 2, and multiple January dates), suggesting programmed disposals rather than opportunistic trades.
- Dropbox trades near $23.40 (52-week range $22.00–$32.40) with a $5.64B market cap, and analyst sentiment has weakened to an average "Reduce" rating with an average target of $27.50 after several price-target cuts.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 111,166 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $22.89, for a total transaction of $2,544,589.74. Following the sale, the chief executive officer owned 8,266,666 shares of the company's stock, valued at $189,223,984.74. This trade represents a 1.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Andrew Houston also recently made the following trade(s):
- On Monday, March 2nd, Andrew Houston sold 109,498 shares of Dropbox stock. The shares were sold at an average price of $24.94, for a total transaction of $2,730,880.12.
- On Monday, February 2nd, Andrew Houston sold 164,502 shares of Dropbox stock. The stock was sold at an average price of $25.66, for a total transaction of $4,221,121.32.
- On Monday, January 12th, Andrew Houston sold 23,818 shares of Dropbox stock. The shares were sold at an average price of $27.51, for a total transaction of $655,233.18.
- On Friday, January 9th, Andrew Houston sold 36,182 shares of Dropbox stock. The shares were sold at an average price of $27.54, for a total value of $996,452.28.
Dropbox Stock Performance
Shares of DBX opened at $23.40 on Friday. The firm has a market capitalization of $5.64 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.65 and a beta of 0.61. Dropbox, Inc. has a 52 week low of $22.00 and a 52 week high of $32.40. The stock has a 50 day moving average price of $24.88 and a two-hundred day moving average price of $27.51.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The company had revenue of $636.20 million for the quarter, compared to analysts' expectations of $627.83 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Dropbox's quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on DBX. UBS Group dropped their price target on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating on the stock in a research report on Friday, February 20th. Wall Street Zen cut shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. reduced their target price on Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, William Blair reiterated an "underperform" rating on shares of Dropbox in a report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $27.50.
Read Our Latest Analysis on Dropbox
Institutional Trading of Dropbox
Large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its stake in Dropbox by 166.6% in the fourth quarter. Corient Private Wealth LLC now owns 61,456 shares of the company's stock valued at $1,708,000 after acquiring an additional 38,402 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Dropbox in the fourth quarter valued at approximately $103,000. DGS Capital Management LLC lifted its position in shares of Dropbox by 12.9% during the 4th quarter. DGS Capital Management LLC now owns 34,360 shares of the company's stock valued at $955,000 after buying an additional 3,933 shares during the last quarter. Kera Capital Partners Inc. raised its stake in Dropbox by 79.6% in the 4th quarter. Kera Capital Partners Inc. now owns 23,251 shares of the company's stock valued at $592,000 after acquiring an additional 10,306 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in Dropbox by 37.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 56,772 shares of the company's stock worth $1,578,000 after purchasing an additional 15,318 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.
About Dropbox
(
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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