Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan Sells 2,500 Shares

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at approximately $11,827,379.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Timothy Regan also recently made the following trade(s):

• On Monday, September 16th, Timothy Regan sold 400 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value of $10,000.00.
• On Monday, July 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $22.76, for a total transaction of $68,280.00.
• On Monday, July 1st, Timothy Regan sold 13,000 shares of Dropbox stock. The stock was sold at an average price of $22.33, for a total transaction of $290,290.00.

Dropbox Stock Down 0.1 %

NASDAQ DBX opened at $24.47 on Friday. The company’s 50 day moving average is $23.54 and its 200-day moving average is $23.23. The firm has a market cap of $8.08 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.51 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The business had revenue of $634.50 million for the quarter, compared to analysts’ expectations of $630.10 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Dropbox, Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

DBX has been the subject of several research analyst reports. UBS Group decreased their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Citigroup decreased their target price on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.67.

Institutional Trading of Dropbox

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in Dropbox by 7.4% during the 4th quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock valued at $196,000 after buying an additional 459 shares in the last quarter. Cooper Financial Group grew its stake in Dropbox by 3.1% during the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after acquiring an additional 462 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in Dropbox by 6.5% during the 2nd quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock worth $219,000 after acquiring an additional 597 shares during the period. Tobam lifted its stake in Dropbox by 4.1% in the 2nd quarter. Tobam now owns 19,642 shares of the company’s stock worth $441,000 after purchasing an additional 767 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in Dropbox by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 321,699 shares of the company’s stock worth $7,817,000 after purchasing an additional 845 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

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.