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

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 29,917 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $248,578,646.62. This trade represents 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 stock was 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 transaction of $3,711,840.00.

Dropbox Price Performance

Shares of Dropbox stock opened at $29.74 on Friday. 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 capitalization of $9.21 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.68 and a beta of 0.61. The company’s 50 day moving average price is $28.74 and its two-hundred day moving average price is $25.66.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. raised its stake in shares of Dropbox by 10.6% during the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after acquiring an additional 21,190 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Dropbox during the third quarter worth approximately $482,000. Retirement Systems of Alabama lifted its position in shares of Dropbox by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Dropbox by 6.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after acquiring an additional 134,503 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

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 equities research 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’s stock. Based on data from MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus price target 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.