Timothy Regan Sells 3,000 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBXGet Free Report) CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total value of $73,080.00. Following the sale, the chief financial officer now directly owns 400,720 shares of the company’s stock, valued at $9,761,539.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Friday, March 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $24.02, for a total value of $72,060.00.
  • On Tuesday, January 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $32.50, for a total value of $97,500.00.

Dropbox Trading Down 0.6 %

Dropbox stock opened at $24.30 on Friday. Dropbox, Inc. has a 12 month low of $19.55 and a 12 month high of $33.43. The stock’s 50 day moving average is $27.29 and its 200-day moving average is $27.82. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 2.74 and a beta of 0.71.

Dropbox (NASDAQ:DBXGet Free Report) last posted its earnings results on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $635.00 million during the quarter, compared to analyst estimates of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. As a group, equities research analysts predict that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently made changes to their positions in the stock. Baupost Group LLC MA lifted its stake in Dropbox by 30.6% during the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock worth $245,777,000 after purchasing an additional 2,476,021 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Dropbox by 10.8% during the second quarter. Thrivent Financial for Lutherans now owns 5,013,693 shares of the company’s stock worth $133,715,000 after purchasing an additional 490,484 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Dropbox by 5.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock worth $120,327,000 after purchasing an additional 227,633 shares during the last quarter. Geode Capital Management LLC lifted its stake in Dropbox by 6.5% during the second quarter. Geode Capital Management LLC now owns 4,245,279 shares of the company’s stock worth $113,050,000 after purchasing an additional 257,648 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Dropbox by 9.5% during the first quarter. First Trust Advisors LP now owns 3,782,752 shares of the company’s stock worth $81,783,000 after purchasing an additional 326,958 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DBX shares. Citigroup decreased their price objective on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. UBS Group began coverage on Dropbox in a report on Friday, December 15th. They set a “buy” rating and a $36.00 target price on the stock. JMP Securities lowered Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. The Goldman Sachs Group lowered Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $26.00 to $24.00 in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and cut their price target for the company from $33.00 to $30.00 in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus price target of $29.78.

Check Out Our Latest Report on DBX

Dropbox Company Profile

(Get Free Report)

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.

Further Reading

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

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