Key Points
- Dropbox CEO Andrew Houston sold 354,300 shares at an average price of $34.01, generating approximately $12.05 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Dropbox shares opened at $34.37, with the company valued at approximately $7.76 billion. Its latest quarterly results modestly exceeded expectations, reporting $0.75 in adjusted earnings per share and $631.5 million in revenue.
- Analyst sentiment remains cautious: Dropbox has a consensus rating of “Reduce” and an average price target of $29.75, while institutional investors own roughly 94.84% of the company.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 354,300 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $34.01, for a total value of $12,049,743.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Thursday, September 10th, Andrew Houston sold 383,800 shares of Dropbox stock. The stock was sold at an average price of $35.02, for a total value of $13,440,676.00.
Dropbox Stock Up 1.4%
Shares of DBX opened at $34.37 on Tuesday. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 4.99 and a beta of 0.63. The business's 50 day moving average is $34.51 and its two-hundred day moving average is $29.15. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $38.17.
Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The business had revenue of $631.50 million during the quarter, compared to the consensus estimate of $626.69 million. During the same quarter last year, the company earned $0.71 earnings per share. The business's quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Dropbox, Inc. will post 1.94 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on DBX shares. Wall Street Zen lowered Dropbox from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Bank of America reiterated an "underperform" rating on shares of Dropbox in a research note on Friday, August 7th. William Blair raised shares of Dropbox from an "underperform" rating to a "market perform" rating in a report on Friday, August 7th. Citigroup downgraded shares of Dropbox from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $33.00 to $29.00 in a research report on Thursday, September 24th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $42.00 price target on shares of Dropbox in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $29.75.
Read Our Latest Stock Analysis on DBX
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its stake in Dropbox by 11.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,573,627 shares of the company's stock valued at $210,547,000 after buying an additional 767,119 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Dropbox by 26.4% during the second quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company's stock worth $82,552,000 after acquiring an additional 627,111 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Dropbox by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company's stock worth $75,626,000 after acquiring an additional 596,440 shares during the last quarter. Norges Bank acquired a new stake in shares of Dropbox in the 4th quarter worth about $69,909,000. Finally, Pacer Advisors Inc. lifted its position in Dropbox by 2.8% in the 1st quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company's stock valued at $46,530,000 after purchasing an additional 55,921 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.
About Dropbox
(
Get Free Report)
Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access files across devices, synchronize content and manage collaboration through web, desktop and mobile applications.
The company's product portfolio includes Dropbox for cloud storage and file collaboration, Dropbox Sign for electronic signatures and document workflows, and DocSend for securely sharing and tracking business documents.
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