Dropbox, Inc. (NASDAQ:DBX) CFO Sells $67,075.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $26.83, for a total transaction of $67,075.00. Following the sale, the chief financial officer owned 513,594 shares of the company’s stock, valued at $13,779,727.02. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, July 1st, Timothy Regan sold 10,000 shares of Dropbox stock. The shares were sold at an average price of $27.94, for a total transaction of $279,400.00.
• On Monday, June 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $28.40, for a total transaction of $71,000.00.
• On Friday, June 13th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $28.10, for a total transaction of $70,250.00.
• On Friday, May 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $28.78, for a total transaction of $71,950.00.
• On Thursday, May 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $29.53, for a total transaction of $73,825.00.
• On Wednesday, April 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $28.29, for a total transaction of $70,725.00.

Dropbox Price Performance

Shares of DBX traded up $0.01 during midday trading on Friday, hitting $26.94. The stock had a trading volume of 89,294 shares, compared to its average volume of 3,416,585. Dropbox, Inc. has a 1 year low of $21.32 and a 1 year high of $33.33. The firm has a market cap of $7.58 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 10.53 and a beta of 0.65. The stock’s 50 day moving average is $28.42 and its 200 day moving average is $28.58.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. During the same quarter last year, the firm posted $0.58 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DBX shares. UBS Group boosted their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Citigroup upped their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Donald L. Hagan LLC boosted its stake in Dropbox by 180.8% in the 2nd quarter. Donald L. Hagan LLC now owns 39,729 shares of the company’s stock worth $1,136,000 after purchasing an additional 25,583 shares in the last quarter. GAMMA Investing LLC boosted its stake in Dropbox by 24.2% in the 2nd quarter. GAMMA Investing LLC now owns 8,967 shares of the company’s stock worth $256,000 after purchasing an additional 1,748 shares in the last quarter. ABLE Financial Group LLC acquired a new stake in Dropbox in the 2nd quarter worth approximately $1,716,000. Abacus FCF Advisors LLC boosted its stake in Dropbox by 56.0% in the 2nd quarter. Abacus FCF Advisors LLC now owns 103,804 shares of the company’s stock worth $2,969,000 after purchasing an additional 37,283 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Dropbox by 22.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 9,012 shares of the company’s stock worth $258,000 after purchasing an additional 1,641 shares in the last quarter. 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.