Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells $14,834,576.95 in Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, January 6th, Andrew Houston sold 29,917 shares of Dropbox stock. The stock was sold at an average price of $30.07, for a total transaction of $899,604.19.
• 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 Up 0.5 %

DBX stock opened at $29.74 on Thursday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The business has a fifty day moving average of $28.66 and a two-hundred day moving average of $25.63. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61.

Analyst Ratings Changes

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

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Dropbox in the third quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox during the third quarter valued at about $31,000. Quarry LP lifted its holdings in shares of Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after acquiring an additional 880 shares during the last quarter. UMB Bank n.a. boosted 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 worth $45,000 after purchasing an additional 1,686 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Dropbox by 133.3% during the 3rd 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. 94.84% of the stock is owned by institutional investors and hedge funds.

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.