Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan Sells 10,000 Shares

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the sale, the chief financial officer now owns 403,764 shares in the company, valued at approximately $11,971,602.60. This represents a 2.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, December 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00.
• On Friday, November 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.17, for a total transaction of $67,925.00.
• On Tuesday, October 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $25.71, for a total transaction of $64,275.00.
• On Tuesday, October 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $26.18, for a total value of $65,450.00.

Dropbox Price Performance

Shares of Dropbox stock opened at $30.07 on Tuesday. The stock has a market capitalization of $9.31 billion, a P/E ratio of 17.38, a PEG ratio of 1.68 and a beta of 0.61. The business has a 50 day simple moving average of $28.59 and a two-hundred day simple moving average of $25.57. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in Dropbox by 0.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock valued at $2,267,000 after acquiring an additional 383 shares during the last quarter. Quarry LP raised its position in Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after purchasing an additional 459 shares during the period. Harbor Capital Advisors Inc. lifted its position in Dropbox by 13.2% in the third quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company’s stock valued at $202,000 after buying an additional 926 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Dropbox by 34.3% in the 3rd quarter. Covestor Ltd now owns 4,043 shares of the company’s stock worth $102,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Dropbox during the 3rd quarter worth approximately $28,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their price objective on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.86.

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.