Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston Sells 29,917 Shares

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 29,917 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $30.07, for a total value of $899,604.19. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $248,578,646.62. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, January 2nd, Andrew Houston sold 500,323 shares of Dropbox stock. The shares were 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 shares were sold at an average price of $30.05, for a total value 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 value of $3,711,840.00.

Dropbox Stock Performance

Shares of DBX opened at $29.74 on Friday. The firm has a 50 day moving average price of $28.74 and a 200-day moving average price of $25.66. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.68 and a beta of 0.61.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their target price on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.86.

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in shares of Dropbox by 63.0% during the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after purchasing an additional 2,881,981 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after purchasing an additional 986,942 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after acquiring an additional 859,233 shares in the last quarter. Distillate Capital Partners LLC purchased a new stake in Dropbox during the 2nd quarter valued at about $14,291,000. Finally, Renaissance Technologies LLC increased its position in shares of Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after acquiring an additional 506,200 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

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.