Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan Sells 3,177 Shares

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,177 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the completion of the sale, the chief financial officer now owns 481,747 shares of the company’s stock, valued at $12,043,675. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 Friday, September 13th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $24.35, for a total value of $60,875.00.
• On Monday, July 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $22.76, for a total value 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 value of $290,290.00.

Dropbox Trading Up 0.4 %

Shares of NASDAQ DBX traded up $0.09 during midday trading on Monday, reaching $24.79. The company had a trading volume of 1,836,072 shares, compared to its average volume of 3,899,531. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The business’s 50-day simple moving average is $23.58 and its 200 day simple moving average is $23.22. The stock has a market cap of $8.19 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.51 and a beta of 0.61.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup reduced their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. UBS Group reduced their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Dropbox has an average rating of “Hold” and an average price target of $28.67.

Institutional Investors Weigh In On Dropbox

A number of large investors have recently bought and sold shares of DBX. Principal Securities Inc. purchased a new stake in Dropbox in the fourth quarter valued at $34,000. Sound Income Strategies LLC purchased a new position in shares of Dropbox during the 1st quarter valued at about $28,000. GAMMA Investing LLC lifted its holdings in shares of Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after buying an additional 907 shares during the period. Fifth Third Bancorp grew its holdings in Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after acquiring an additional 1,169 shares during the period. Finally, Quarry LP grew its holdings in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after acquiring an additional 880 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.