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

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 completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $248,578,646.62. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $29.65, for a total value 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 Up 0.5 %

NASDAQ:DBX opened at $29.74 on Thursday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The stock has a market cap of $9.21 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The stock’s 50-day moving average is $28.66 and its 200-day moving average is $25.63.

Hedge Funds Weigh In On Dropbox

A number of hedge funds have recently modified their holdings of DBX. Capital Performance Advisors LLP acquired a new position in Dropbox in the third quarter valued at $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter worth approximately $31,000. UMB Bank n.a. lifted its position in shares of Dropbox by 2,479.4% during the 3rd 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 period. Quarry LP boosted its stake in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after acquiring an additional 880 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Dropbox by 133.3% in the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock worth $73,000 after purchasing an additional 1,650 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

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