Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CEO Andrew Houston sold 28,012 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $25.01, for a total transaction of $700,580.12. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $206,749,316.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Andrew Houston also recently made the following trade(s):
- On Tuesday, September 24th, Andrew Houston sold 66,064 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total transaction of $1,651,600.00.
- On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00.
Dropbox Stock Performance
NASDAQ:DBX traded up $0.12 during mid-day trading on Monday, reaching $25.43. 3,116,655 shares of the company’s stock were exchanged, compared to its average volume of 3,863,731. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The firm has a market capitalization of $8.40 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. The business’s fifty day simple moving average is $23.77 and its two-hundred day simple moving average is $23.26.
Hedge Funds Weigh In On Dropbox
A number of hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new position in Dropbox in the 1st quarter valued at about $28,000. GAMMA Investing LLC increased its holdings in Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after buying an additional 907 shares during the period. Fifth Third Bancorp increased its holdings in Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after buying an additional 1,169 shares during the period. Quarry LP boosted its stake in shares of Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Dropbox in the 1st quarter valued at approximately $65,000. 94.84% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on DBX shares. Citigroup cut their price target on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. UBS Group dropped their price objective on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.67.
Check Out Our Latest Stock Analysis on Dropbox
About Dropbox
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.
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