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

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) 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 value of $899,604.19. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $248,578,646.62. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 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 shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00.

Dropbox Price Performance

Shares of DBX stock traded up $0.16 during mid-day trading on Wednesday, hitting $29.74. The stock had a trading volume of 2,146,147 shares, compared to its average volume of 3,156,469. The firm has a market cap of $9.21 billion, a PE ratio of 17.19, a PEG ratio of 1.68 and a beta of 0.61. The company's 50-day simple moving average is $28.66 and its 200-day simple moving average is $25.63. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Institutional Investors Weigh In On Dropbox

Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of Dropbox by 0.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company's stock worth $2,267,000 after purchasing an additional 383 shares during the period. Quarry LP boosted its holdings in Dropbox by 23.4% during the third quarter. Quarry LP now owns 2,424 shares of the company's stock worth $62,000 after buying an additional 459 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Dropbox by 13.2% during the third quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company's stock worth $202,000 after buying an additional 926 shares during the period. Covestor Ltd increased its holdings in Dropbox by 34.3% in the third quarter. Covestor Ltd now owns 4,043 shares of the company's stock valued at $102,000 after buying an additional 1,033 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Dropbox during the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lifted 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.