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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 29,917 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 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 document filed with the SEC, which is accessible 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 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 transaction of $4,131,844.95.
• On Monday, December 2nd, Andrew Houston sold 132,000 shares of Dropbox stock. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00.

Dropbox Stock Down 1.1 %

Shares of Dropbox stock opened at $29.41 on Friday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The company has a 50 day moving average of $28.88 and a 200 day moving average of $25.74. The company has a market capitalization of $9.11 billion, a P/E ratio of 17.00, a P/E/G ratio of 1.68 and a beta of 0.61.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its position in shares of Dropbox by 17.9% during the 2nd quarter. TD Asset Management Inc now owns 25,500 shares of the company’s stock worth $573,000 after buying an additional 3,866 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Dropbox by 30.8% during the 2nd quarter. Victory Capital Management Inc. now owns 729,281 shares of the company’s stock worth $16,387,000 after buying an additional 171,917 shares during the last quarter. Quest Partners LLC lifted its position in shares of Dropbox by 32,226.9% during the 2nd quarter. Quest Partners LLC now owns 16,810 shares of the company’s stock worth $378,000 after buying an additional 16,758 shares during the last quarter. Prudential PLC lifted its position in shares of Dropbox by 797.9% during the 2nd quarter. Prudential PLC now owns 209,225 shares of the company’s stock worth $4,701,000 after buying an additional 185,923 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Dropbox during the 2nd quarter worth approximately $330,000. Hedge funds and other 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.