Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 383,800 shares of the company's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $35.81, for a total transaction of $13,743,878.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, October 12th, Andrew Houston sold 29,500 shares of Dropbox stock. The stock was sold at an average price of $35.09, for a total transaction of $1,035,155.00.
- On Thursday, October 1st, Andrew Houston sold 354,300 shares of Dropbox stock. The stock was sold at an average price of $34.01, for a total transaction of $12,049,743.00.
- 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 transaction of $13,440,676.00.
Dropbox Trading Up 3.3%
DBX stock opened at $36.10 on Thursday. The stock has a 50-day moving average price of $35.29 and a two-hundred day moving average price of $29.16. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $38.22. The stock has a market cap of $8.15 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 3.45 and a beta of 0.62.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $631.50 million during the quarter, compared to analysts' expectations of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%. Dropbox's revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, analysts forecast that Dropbox, Inc. will post 1.94 earnings per share for the current fiscal year.
Institutional Trading of Dropbox
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its stake in shares of Dropbox by 2.8% in the first quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company's stock worth $46,530,000 after acquiring an additional 55,921 shares during the period. Wedge Capital Management L L P NC raised its stake in 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 buying an additional 627,111 shares during the last quarter. Corient Private Wealth LP raised its stake in Dropbox by 358.4% during the second quarter. Corient Private Wealth LP now owns 244,482 shares of the company's stock worth $6,716,000 after buying an additional 191,147 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Dropbox during the 2nd quarter worth about $4,938,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Dropbox by 369.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 47,393 shares of the company's stock valued at $1,077,000 after purchasing an additional 37,302 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on DBX. Citigroup cut shares of Dropbox from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $33.00 to $29.00 in a research report on Thursday, September 24th. Stephens initiated coverage on Dropbox in a report on Tuesday. They set an "equal weight" rating and a $39.00 target price for the company. Bank of America reaffirmed an "underperform" rating on shares of Dropbox in a research report on Friday, August 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 price objective on shares of Dropbox in a research note on Thursday, September 3rd. Finally, Wall Street Zen downgraded shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Dropbox currently has an average rating of "Reduce" and a consensus price target of $31.60.
Read Our Latest Stock Report on DBX
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 documents, photos and other content across connected devices, synchronize files and manage shared workflows.
The company's offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.
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