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

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.18, for a total transaction of $65,450.00. Following the completion of the transaction, the chief financial officer now owns 466,747 shares of the company’s stock, valued at $12,219,436.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, September 19th, Timothy Regan sold 3,177 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total transaction of $79,425.00.
• 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 transaction of $10,000.00.
• On Friday, September 13th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $24.35, for a total value of $60,875.00.

Dropbox Price Performance

Shares of DBX stock opened at $26.37 on Friday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The firm’s 50-day simple moving average is $24.50 and its 200-day simple moving average is $23.41. The firm has a market cap of $8.71 billion, a P/E ratio of 17.46, a PEG ratio of 1.61 and a beta of 0.61.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Aaron Wealth Advisors LLC purchased a new position in Dropbox in the third quarter valued at approximately $246,000. V Square Quantitative Management LLC acquired a new stake in Dropbox in the third quarter valued at approximately $31,000. Creative Planning grew its position in Dropbox by 97.4% in the third quarter. Creative Planning now owns 66,123 shares of the company’s stock valued at $1,682,000 after acquiring an additional 32,622 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Dropbox by 3.6% in the third quarter. Wedge Capital Management L L P NC now owns 141,878 shares of the company’s stock valued at $3,608,000 after acquiring an additional 4,893 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Dropbox in the third quarter valued at approximately $812,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

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

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.