Dropbox (NASDAQ:DBX) CFO Sells $42,600.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $28.40, for a total value of $42,600.00. Following the completion of the transaction, the chief financial officer owned 468,621 shares in the company, valued at approximately $13,308,836.40. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, October 15th, Timothy Regan sold 1,500 shares of Dropbox stock. The stock was sold at an average price of $28.62, for a total value of $42,930.00.
• 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 stock was 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 stock was sold at an average price of $27.95, for a total value of $69,875.00.

Dropbox Price Performance

Dropbox stock opened at $29.13 on Thursday. The stock’s 50-day moving average is $29.77 and its 200-day moving average is $28.73. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.82 and a beta of 0.65. Dropbox, Inc. has a 12 month low of $24.42 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The company had revenue of $625.70 million for the quarter, compared to the consensus estimate of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. Research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently bought and sold shares of DBX. Elequin Capital LP increased its holdings in Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after purchasing an additional 469 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Dropbox during the 2nd quarter worth approximately $30,000. First Horizon Corp purchased a new stake in Dropbox during the 3rd quarter worth approximately $31,000. LRI Investments LLC increased its holdings in Dropbox by 666.7% during the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DBX. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, UBS Group downgraded Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Dropbox currently has an average rating of “Reduce” and a consensus target price of $29.67.

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.