Dropbox, Inc. (NASDAQ:DBX) CEO Sells $899,604.19 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 29,917 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $30.07, for a total transaction of $899,604.19. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $248,578,646.62. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Andrew Houston also recently made the following trade(s):

• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95.
• On Wednesday, December 11th, Andrew Houston sold 137,499 shares of Dropbox stock. The stock was sold at an average price of $30.05, for a total transaction of $4,131,844.95.
• On Monday, December 2nd, Andrew Houston sold 132,000 shares of Dropbox stock. The stock was sold at an average price of $28.12, for a total transaction of $3,711,840.00.

Dropbox Trading Down 1.1 %

Dropbox stock opened at $29.41 on Friday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The stock has a market cap of $9.11 billion, a P/E ratio of 17.00, a PEG ratio of 1.68 and a beta of 0.61. The company has a 50-day moving average price of $28.88 and a 200 day moving average price of $25.74.

Institutional Investors Weigh In On Dropbox

Institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Dropbox during the third quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the third quarter valued at about $31,000. Quarry LP increased its position in shares of Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares during the last quarter. UMB Bank n.a. increased its position in shares of Dropbox by 2,479.4% during the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,686 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Dropbox by 133.3% during the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after acquiring an additional 1,650 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Dropbox presently has an average rating of “Hold” and a consensus target price of $28.86.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.