Key Points
- Dropbox CEO Andrew Houston sold 37,498 shares on May 14 at an average price of $25.96, totaling about $973,448. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Houston has made additional recent stock sales, including more than 111,000 shares in April and about 109,500 shares in March, each worth over $2.5 million.
- Dropbox recently reported better-than-expected quarterly results, with earnings of $0.76 per share versus estimates of $0.71 and revenue of $629.5 million. Analysts currently have a mixed outlook, with an average rating of “Reduce” and an average target price of $27.00.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 37,498 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $25.96, for a total transaction of $973,448.08. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 transaction 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 transaction of $2,730,880.12.
Dropbox Stock Performance
NASDAQ:DBX opened at $27.98 on Tuesday. The company has a 50-day moving average of $24.55 and a 200-day moving average of $26.41. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 3.02 and a beta of 0.64. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $32.40.
Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. The company had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. Sell-side analysts forecast that Dropbox, Inc. will post 2.03 EPS for the current year.
Hedge Funds Weigh In On Dropbox
Several institutional investors have recently added to or reduced their stakes in the company. Rossby Financial LCC raised its position in Dropbox by 128.5% in the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company's stock valued at $28,000 after purchasing an additional 527 shares during the last quarter. Palisade Asset Management LLC bought a new position in Dropbox in the 3rd quarter valued at $30,000. First Horizon Corp bought a new position in Dropbox in the 3rd quarter valued at $31,000. Kestra Advisory Services LLC bought a new position in Dropbox in the 4th quarter valued at $31,000. Finally, Larson Financial Group LLC raised its position in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company's stock valued at $32,000 after purchasing an additional 791 shares during the last quarter. 94.84% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently commented on the company. Wall Street Zen raised Dropbox from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. decreased their price target on Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. UBS Group decreased their price target on Dropbox from $27.00 to $23.00 and set a "sell" rating on the stock in a research note on Friday, February 20th. Royal Bank Of Canada boosted their price target on Dropbox from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Citigroup lifted their price target on shares of Dropbox from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $27.00.
Check Out Our Latest Stock Report on Dropbox
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.
Further Reading
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