Dropbox, Inc. (NASDAQ:DBX) CFO Sells $47,800.00 in Stock

Posted by on May 27th, 2022

Dropbox, Inc. (NASDAQ:DBX – Get Rating) CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $19.12, for a total transaction of $47,800.00. Following the sale, the chief financial officer now owns 534,973 shares of the company’s stock, valued at approximately $10,228,683.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

  • On Monday, April 25th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $22.33, for a total transaction of $55,825.00.
  • On Friday, April 1st, Timothy Regan sold 1,000 shares of Dropbox stock. The shares were sold at an average price of $23.39, for a total transaction of $23,390.00.
  • On Friday, March 25th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $23.23, for a total transaction of $58,075.00.

Shares of Dropbox stock traded up $0.24 on Friday, hitting $21.13. The company’s stock had a trading volume of 2,866,880 shares, compared to its average volume of 3,687,039. Dropbox, Inc. has a 52-week low of $19.07 and a 52-week high of $33.00. The firm has a fifty day moving average price of $22.04 and a 200-day moving average price of $23.31. The company has a market capitalization of $7.94 billion, a P/E ratio of 22.48 and a beta of 0.89.

Dropbox (NASDAQ:DBX – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.19 by $0.19. Dropbox had a net margin of 16.66% and a negative return on equity of 146.35%. The business had revenue of $562.40 million for the quarter, compared to analyst estimates of $559.09 million. During the same period in the previous year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts expect that Dropbox, Inc. will post 0.88 earnings per share for the current year.

DBX has been the topic of several recent research reports. Zacks Investment Research cut shares of Dropbox from a “buy” rating to a “sell” rating in a research note on Monday, February 28th. JMP Securities lowered their price target on shares of Dropbox from $39.00 to $30.00 in a research note on Friday, February 18th. William Blair reaffirmed an “outperform” rating on shares of Dropbox in a research note on Friday, February 18th. Finally, Jefferies Financial Group lowered their price target on shares of Dropbox from $35.00 to $30.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $29.80.

Several institutional investors have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Dropbox by 0.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 58,911 shares of the company’s stock valued at $1,721,000 after purchasing an additional 393 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Dropbox by 4.4% in the 1st quarter. Stratos Wealth Partners LTD. now owns 15,473 shares of the company’s stock valued at $360,000 after purchasing an additional 659 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in Dropbox by 2.0% in the 4th quarter. IFM Investors Pty Ltd now owns 41,076 shares of the company’s stock valued at $1,008,000 after purchasing an additional 799 shares in the last quarter. Xponance Inc. lifted its holdings in Dropbox by 2.5% in the 1st quarter. Xponance Inc. now owns 34,379 shares of the company’s stock valued at $799,000 after purchasing an additional 831 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Dropbox by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,730 shares of the company’s stock valued at $133,000 after purchasing an additional 918 shares in the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

Dropbox Company Profile (Get Rating)

Dropbox, Inc provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users.

Further Reading

Insider Buying and Selling by Quarter for Dropbox (NASDAQ:DBX)

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