Dropbox Inc (NASDAQ:DBX) CEO Andrew Houston sold 61,728 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $27.04, for a total value of $1,669,125.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Andrew Houston also recently made the following trade(s):
- On Friday, August 24th, Andrew Houston sold 61,728 shares of Dropbox stock. The stock was sold at an average price of $27.16, for a total value of $1,676,532.48.
DBX traded up $0.01 during trading on Thursday, hitting $27.12. 9,071 shares of the stock were exchanged, compared to its average volume of 4,455,808. Dropbox Inc has a 1-year low of $24.78 and a 1-year high of $43.50. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.12.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in Dropbox during the first quarter worth approximately $24,775,000. LPL Financial LLC acquired a new position in Dropbox during the first quarter worth approximately $886,000. American Century Companies Inc. acquired a new position in Dropbox during the first quarter worth approximately $2,031,000. Cambridge Investment Research Advisors Inc. increased its position in Dropbox by 41.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,914 shares of the company’s stock worth $581,000 after buying an additional 5,271 shares during the period. Finally, Federated Investors Inc. PA increased its position in Dropbox by 24.7% during the second quarter. Federated Investors Inc. PA now owns 1,618,714 shares of the company’s stock worth $52,479,000 after buying an additional 320,380 shares during the period. 13.82% of the stock is currently owned by institutional investors.
DBX has been the topic of several research analyst reports. Jefferies Financial Group raised their target price on Dropbox to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Royal Bank of Canada raised Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a research report on Friday, August 10th. JMP Securities raised their target price on Dropbox from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Monness Crespi & Hardt initiated coverage on Dropbox in a research report on Monday, August 27th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised Dropbox from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $34.29.
Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.
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