Dropbox (NASDAQ:DBX) CFO Timothy Regan Sells 1,500 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 1,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $28.62, for a total value of $42,930.00. Following the completion of the transaction, the chief financial officer owned 470,121 shares of the company’s stock, valued at $13,454,863.02. The trade was a 0.32% decrease in their ownership of the stock. The transaction 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 Wednesday, October 1st, Timothy Regan sold 5,000 shares of Dropbox stock. The stock was sold at an average price of $29.76, for a total value of $148,800.00.
• On Tuesday, September 30th, Timothy Regan sold 1,500 shares of Dropbox stock. The shares were sold at an average price of $30.71, for a total value of $46,065.00.
• On Friday, August 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.95, for a total value of $69,875.00.
• On Tuesday, July 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.98, for a total value of $69,950.00.

Dropbox Trading Up 2.5%

NASDAQ DBX opened at $29.10 on Friday. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33. The stock has a 50-day moving average of $29.49 and a 200-day moving average of $28.48. The firm has a market cap of $7.85 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.74 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The company had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. During the same quarter in the previous year, the company posted $0.60 EPS. Dropbox’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Dropbox in the 2nd quarter worth approximately $56,911,000. Norges Bank bought a new position in shares of Dropbox in the 2nd quarter worth approximately $51,307,000. Seizert Capital Partners LLC raised its position in shares of Dropbox by 524.8% in the 1st quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company’s stock worth $50,198,000 after acquiring an additional 1,578,566 shares in the last quarter. LSV Asset Management raised its position in shares of Dropbox by 18.4% in the 1st quarter. LSV Asset Management now owns 7,633,516 shares of the company’s stock worth $203,891,000 after acquiring an additional 1,187,395 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Dropbox by 38.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,482,705 shares of the company’s stock worth $66,313,000 after acquiring an additional 684,882 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and lowered their price target for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Finally, Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Dropbox currently has an average rating of “Reduce” and a consensus target price of $29.67.

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.